This month we break down what's going on with property insurance in the state of California (see below). The changes are not only affecting buyers, everyone will have to pay more for basic coverage due to inflation, global warming and how both are impacting our state. Let me know if you ever need insurance resources. I am happy to provide options.
May 2023 East Bay real estate continued to see dramatically less inventory (-29%) than last year and this continues to drive single family home prices higher. Condominium sales continue to be soft and there are actually some great condo options out there for buyers looking at this inventory.
Typically, we see sales slow down over the next 2-3 months while most of the country vacations. Since our Spring market was slower than expected, we are seeing new inventory continuing to motivate buyers to purchase now vs. waiting for possible lower interest rates in the fall when even more buyers will compete for properties.
Did you have questions about our local, national or international real estate market?
I can help you in all areas, as myself and Red Oak have a great partnership with Leading Real Estate Companies of the World, an affiliate we work with that gives us access to other partners globally.
Reach out and let me help you, your friends and family with their real estate needs.
