In the East Bay, low inventory and high demand have more than offset the downward price pressure from higher mortgage rates. Prices in the East Bay generally haven’t experienced larger drops due to higher mortgage rates, and in fact, prices are slightly below peak levels in many areas. Homes coming under contract rose significantly as well, up 4.9%, indicating that sales may increase again in August. Prices typically peak in the summer months, so we don’t expect new all-time highs for the rest of this year.
As always, Arrive Real Estate Group remains committed to helping our clients achieve their current and future real estate goals. Our team of experienced professionals are happy to discuss the information we’ve shared in this newsletter. We welcome you to contact us with any questions about the current market or to request an evaluation of your home.
