Monday, March 2, 2020

2/24/2020 - 3/1/2020

With the exception of 10 listings that have been on the market since the holidays, there has been great turnover in the Redwood City real estate market so far this year.  If you remove those 10 listings from the equation, the average age of our active inventory is only 12.5 days.  This is the result of strong demand that has likely been fueled to a degree by very low mortgage rates.  Rates continue to trend toward historic lows, and with fears about the Coronavirus growing, the Fed is contemplating another rate cut.  Should this occur, we could see even further dips in mortgage rates.  

In the meantime, everyone has their eyes on the stock market after it saw its worst week since the 2008 financial crisis.  Where the Coronavirus is helping the real estate market by driving mortgage rates down, it could be hurting it just as much by taking money out of the pockets of would-be buyers who are heavily invested in the stock market.


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