“Northern California had a strong start to the Spring home buying season notwithstanding low inventory. The housing market continues to experience an abundance of buyers, and in most cases, multiple offers on reasonably priced listings. New listings continue to come on the market, but not at a rate that meets buyer demand.”
As part of the on-going boomer conspiracy to dodge responsibility for everything wrong with the world, The Wall Street Journal contends that the country’s housing shortage is due, at least in part, to “the rush of young people to U.S. cities over the past few years”. “As young people and builders have shifted their focus toward trendier urban markets,” the Journal reports, “overall housing construction has declined”.
The California Association of REALTORS makes a compelling case that boomers still matter.
Another month of “to infinity, and beyond”.
Ranch-style home, or socialist worker housing? Big back yard, or a tiny deck with a sweeping view of your neighbor’s tiny deck? A 2017 kitchen, or a 1955 kitchen?
Millennials are forming new households at a significantly faster pace, reports Fannie Mae, which “bodes well for housing demand”.
“Northern California continues to experience a healthy sellers’ market with median and low priced properties and, in some areas, with reasonably priced luxury properties. Due to the limited inventory and high demand for median priced properties, most reasonably priced listings receive multiple offers above asking price.”