While our local real estate market hasn’t returned to normal operation, restrictions are easing and sales are happening. Moving is now a permissible activity, which is helping spur activity. Agent activities remain fairly restricted. Virtual showings are becoming more common. With proper precautions, in person showings of properties are now possible as long as strict guidelines and precautions are practiced to protect the health and safety of everyone.
What these various factors mean to each buyer and seller will vary. Now more than ever it’s critical to understand our client’s goals and advise accordingly in light of our new normal.
It’s equally important to remember that our market fundamentals have not changed. We still have extremely limited inventory across the Bay Area, prices continue to rise, interest rates are at historic lows and we’re heading into the busy real estate season. This strong market does not represent a housing bubble, and our market is again looking more resilient than other major metro area markets nationwide. (Download the complete Market Report here: pam-tyson-san-mateo-ca-real-estate-2020_May_KWPE_Market_Report )