The long-awaited Fed easing finally happened in Q3, but instead of producing more Buyers, the rate decline brought out more Sellers. Existing homeowners have built up quite a bit of equity and depending on the strength of their motivations to move, they can either afford to pay all cash for their new home, or endure a higher mortgage rate. These Sellers it seemed, didn’t want to wait any longer to get on with life. Buyers one the other hand continue to exhibit fatigue for all but the very best opportunities. Look at those sales results for Corte Madera and Greenbrae! Marin prices for “move-in ready” homes have held up extremely well, with the bulk of the effect of increased rates being felt by Sellers of homes in less than move-in condition. Most of Marin in fact, experienced modest price softening. Interested in making a move, but confused about how to navigate this market? Give me a call today for a free consultation!
About the Author
