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.”
What Gen X-ers want is home sweet home. And a Rachael Ray Nonstick Bakeware 5-Piece Set, Latte Brown with Agave Blue Handle Grips.
For the answer, all we have to do is ask complete strangers hanging out at Palo Alto’s Town & Country Village.
“Coldwell Banker Northern California has unveiled the Coldwell Banker Global LuxurySM program [of which your humble correspondent John Fyten is a member], reflecting the interconnected world of luxury real estate. Coldwell Banker Global Luxury showcases luxury properties to an international network in 49 countries and territories and effectively retires the Coldwell Banker Previews International name.”
The big boomer sell-off is coming in 2020! Or maybe it’s “the mid to late 2020s”! Whatever! Boomers “are going to be in a real pickle”, and entire real estate markets will collapse! And you can take that to the bank!
“As the first quarter of 2017 comes to a close, California continues to show an abundance of active buyers throughout its markets while dealing with consistently low inventory. Reasonably priced homes spend minimal days on the market, often having received multiple offers, while overpriced homes are taking longer to sell.”