- Continuing High Demand for Homes will Drive Up Prices
-Interest rates are likely to rise slightly
-The huge “Millenial” generation is the biggest share of homebuyers – 51% in 2021, and this is predicted to continue.
-“Remote Work” gives many renters the freedom to buy homes in less expensive suburbs.
-Rising Rents – Many renters are looking at $3000+ per month rents and saying "no more"! They are buying condos and starter homes.
-Many long time homeowners are opting to sell Bay Area homes and move to more affordable areas. Sellers 55 and older can transfer their existing property tax base anywhere in California now – thanks to Prop. 19. Want info on Prop 19 & how it works? Just ask & I’ll send it.
COVID /Omicron Variant- The “Wild Card”. Since the first COVID shutdowns in 2020, the demand for home ownership has soared. Will Omicron change this?