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Contra Costa County Real Estate Market Update

By
Real Estate Broker/Owner with eXp Realty of California, Inc. Cal Bre# 01146115

Contra Costa County Real Estate Market Update

Contra Costa County Real Estate Market Update2017 has quickly moved into its second month. Welcome to February. It is time for a real estate update for our area. There have been several changes in the real estate climate, especially in California. These are changes worth discussing because part of being a successful real estate investor is knowing the market conditions, predictions, and trends. Let’s dive right in.

The San Francisco Bay area includes major counties including San Francisco of course, Santa Clara County and Contra Costa County. To generalize the area, we will call this the Bay area in terms of the real estate market. In 2016, we saw low interest rates, and our market up, up, up. Interest rates remained buyer-friendly, and investor friendly. Home sales prices increased which made seller’s happy. Everyone was gaining some benefits. It was a lovely sight, and a good sign of the market increasing, demand increasing, and a sign of economic growth. Something we always want to see. 2017 will bring some changes in comparison. In a nutshell, the market plans to slow down. Home prices are predicted to slowly rise over the next year. Mortgage rates are expected to slowly rise over the next year.

What does this mean?

While it may not be what you want to hear, it is beneficial knowledge to have. Here is the big picture: it is not a bad thing to have the market slow down a little or prices to slowly increase. It is a great sign of a healthy market. In terms of long-term stability, a slow rises reflects a sustainable growth and we like that. We actually do not want to see things drastically change to fast and not last. Therefore, chin up, roll with the changes in 2017 and know that they will be good for our real estate economy in the long-term. And as always, contact your local experts, The Irvin Team for all of your real estate needs!

This Contra Costa County Real Estate Market Update information is brought to you by: The Irvin Team, Your Contra Costa County Real Estate Investment Experts!

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