Joe Polyak January 29, 2019
What’s in store for our San Mateo market as we settle into 2019? To answer that question, let’s compare the year-over-year numbers from 2017 to 2018:
2018 started much in the same way that 2017 ended—as a very hot seller’s market. By the fourth quarter, however, things started to change. Here’s a year-over-year comparison of the fourth quarters of 2017 and 2018:
Though the statistics definitely indicate a slowdown near the end of last year, we’re not in a recession. As it stands right now in 2019, it’s important to note that interest rates are very low. In fact, you can get a 30-year fixed mortgage rate for under 4%. If you’re a buyer, this is good news.
If you think you can’t afford to buy a new home because it’s too expensive, remember that prices may go down, but if interest rates go up at the same, your purchasing power remains the same.
I don’t have a crystal ball for the rest of 2019, but I can tell you that if you’re planning on buying or selling a home, we can get you the best deal possible.
If you have any more questions about our San Mateo market or you have any other real estate needs we can take care of, don’t hesitate to reach out to us. We’d love to help you.
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