Bay Area homebuyers are experiencing favorable conditions as inventory hits a five-year high, with stable prices despite an increase in price drops. Real estate agents note that the abundance of available listings allows buyers more options than ever, while sellers face increased competition, prompting price drops. However, these reductions do not always equate to lower sales prices, as homes often sell above their asking price. The current situation reflects a rare balance in a typically competitive market where demand consistently exceeds supply.
Homebuyers have never had more selection in the last five years than they have right now, said Rick Fuller, a real estate agent based in Concord.
Sellers have to be more competitive with each other; the result? Prices are staying stable, for now.
Collection
[
|
...
]