Gullicksen Group Sees Market Volatility In Full Swing
SAN FRANCISCO (PRWEB) December 17, 2018 -- Many people are wondering if the Bay Area’s housing market is about to slide into 2019. At the Gullicksen Group, they have begun seeing sure signs of a market in transition.
According to Tim Gullicksen, "The San Francisco market has felt a little wobbly post-Labor Day 2018. More properties are staying on the market longer. More properties than usual are not getting offers on their offer dates. There are more price reductions than we're used to seeing."
According to the San Francisco Business Journal, housing inventory hit a seven-year high this fall. The California Association of Realtor's Nov. 15 report found that sales for the San Francisco Bay Area as a whole decreased 3.0 percent from a year ago.
"Homebuyers continued to put their home ownership plans on hold in October and wait out the market," said 2019 C.A.R. President Jared Martin. "With mortgage rates at seven-year highs, making homeownership more expensive and home prices beginning to flatten, this phenomenon will likely continue for the near term as buyers wait for further price adjustments and for interest rates to stabilize."
It's a game of chicken between buyers and sellers. Who will blink first? According to Gullicksen, if buyers start to scoop up the available inventory, Bay Area housing prices will be bolstered and 2019 would be a year of stable, or even slightly increasing, prices. If, on the other hand, sellers start to slash prices in an effort to get their homes sold, prices may start declining in 2019.
No matter which way the market is headed, you'll always be prepared for it by working with a professional realtor like Tim Gullicksen.
About the company:
Tim Gullicksen has been a top-producing real estate agent since he first entered into the business, and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credentials from JFK University in Orinda, and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background, and sees himself as a facilitator of property transactions. For more information, visit his website at http://www.gullicksengroup.com/.
Tim Gullicksen, SF Gate / Tim J Gullicksen Zephyr Realty, http://www.gullicksengroup.com/, 415-655-1588, [email protected]
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