Home Prices Hit New Highs

High Prices and High Rates... How Did This Happen?

The goal of increasing rates was to slow the overheated real estate market. However, in Livermore we see homes selling in 9 days on average and in Pleasanton, homes sell well over list price. This trend has been happening for months and every month I highlight the sales for the Tri-Valley. Look back and see the stats. Tyler's Blog.

If high rates were an attempt to slow the market, maybe it didn't really work. Buyers are now living with the rates and it has become the new normal for buyers. What about people who already own a home with a rate below 3.5%? The answer is they are not moving. This now puts stress on inventory and because of the low supply, the prices are back to peak numbers in some parts of the country.

Take a look at this article about the current market.

Home Prices Hit New Highs