Not seeing many houses on the market, new releases in Newark communities is sort of stopped. Is this all because of new tax bill and H1B extension news?
This is usually a slower time for housing market.
Meaning not much overbidding?
Meaning low supply. People tend to list during spring/summer because of school schedules. And people with kids tend to buy around that same time period
Meaning less options available to buy meaning more competition
Supply / demand stays fairy in sync with each other, less buyers but less inventory , In summer picks up with more inventory but more buyers.
It's very usual for this time. Market will pick up again and you will see much more inventory after March onwards.
Low season and people waiting for tax bill impact to settle out
January is the lowest volume month of the year.
Why is anyone even shopping. You get a tiny 1 thousand square foot house with 2 bedrooms and 1 freaking bathroom for a million on the peninsula!
That would be a steal! I'd buy that unseen if real.
Lol 😂
2/1 in bad condition oin the fancy part of Sunnyvale went for 1.9 with 10 offers
San Jose inventory dropped by 40 percent YOY. Lowest inventory going back to 2000. No one wants to sell as everyone is locked with lowest mortgage rates and houses have appreciated so much that mortgage is very low. Now with new tax reform, sellers have more reasons to not sell (their new Home mortgage will hit the 750K limit). So no one selling and a gazillion waiting to buy! Hurray to another year of 20% rise in housing prices !
You can have my house for 40% increase. It will be a steal in 3 years.
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Our agent says it picks up after the Superbowl. We'll see...