“April Home Buying Picks Up as Mortgage Rates Drop Unexpectedly”

April is here in Marin and I’m not 100% sure, but I believe that big yellow ball in the sky is the sun. After the wettest winter in recent memory, the clouds parted, the yellow ball came out and so did the buyers. I’ll never forget it. One week ago, I had my first open house in months. I’d kept my expectations in check, which was really my way of saying I had no idea what to expect. I literally said this to Kathryn as I was on my way out the door. Then, at the stroke of 2:00 pm, it was like somebody opened the electronic hold back gates at a horse racing track. People started arriving and they didn’t stop. At the end of the weekend, after my second Open House, I’d had somewhere around 140 people through. I know, right? Wow. Not only that, it continued throughout the week. I heard the same feedback from many of my fellow agents, too. Not that one week makes a market, but it’s not a bad way to kick off the selling season.   

For the data watchers out there, inventory continues to be at record lows all across the board. Thankfully the numbers are changing, albeit slowly. We’re up 25 homes (155 total) from last month, but given this is a busy time for buying and selling, that could stay static more or less for April. Typically we see 20 new listings a day, but another 15-18 go into contract, making it a slow swell of inventory. Still, these next few months are Go Time for buyers and sellers as most people want to close escrow in June or July, latest. School starts in mid August, making it a target for new homeowners to want to be unpacked and in place by that time, hopefully. Let’s see how it goes. 

That’s it for now. Until next time, enjoy April wherever you are and please stay safe. As always, thanks for reading.

Ted

415.377.5222

ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder