Slight bump in inventory throughout Napa and Solano Counties after the holidays which is to be expected. A nice surprise, however, was the interest rate retreating towards pre-election rates as they fell just below 4%.
The big real estate news coming out of last week was the Fed's decision to raise the short term interest rate .25%. Interest rates rose sharply. The current whispers in the real estate world is how an increase in mortgage rates will effect home affordability - some estimates say that a rise of just 0.5% … Continue reading
All indicators are now pointing to the traditional seasonal slowdown as folks take a breath for the Holidays...the one exception being American Canyon which added 4 new homes to the market last week, including one by fellow office mate Kasama Lee. 500 Wetlands Edge Rd boasts an amazing view and is just a few short … Continue reading
There has been a great deal of discussion regarding how many more millennials are living at home. This infograph shows that there is a significantly wider range of household living arrangements today than in the 1960's. The largest drop has been in living with spouse.
This slight upward tick in inventory appears to buck the normal trend, but it's important to hold off on making any significant assumptions. Most leading economists are still predicting a leveling off of inventory and prices in 2017. It may only be a temporary increase in response to rising mortgage rates, but it's worth watching.
The American Canyon and Vallejo real estate markets both posted month-over-month and year-over-year gains in the median sales price. The median sales price in Vallejo rose 8.2% to $355,000 and in American Canyon it rose to $460,000. The number of homes sold decreased by 5 in Vallejo while American Canyon had a slight bump in … Continue reading