Here’s our tri-county Market Snapshot for the first half of March 2023 📈📊📉 Wow – What a month thus far. The market is feeling the shock of the SVB bailout – however – perhaps interest rates will stay where they are rather than rise as forecasted. Whether selling a home or buyer, each market and price point is different – Let The Caton Team guide you to your goals. 🗝️ It’s what we do. How can The Caton Team Help You?
The Mateo County saw a slowdown in new listings, pending and solds for this snapshot. A few homes even were pulled from the market. However, we saw an uptick in condo/townhome sales both in pending and solds. Savvy buyers getting in while they can.
San Francisco County saw an increase in new and active listings, while pendings and solds were down. I think this is a reflection of the price point and the job market in SF. But have no fear, Real Estate is a cycle, and this downturn in the market is what buyers have been waiting for – though the interest rate didn’t help their cause – but refinancing when rates come down will be an option.
Santa Clara saw the most change, with new and active listings down. However, sales made early in the month and February closed!
Over all, in the past week – we’ve noticed properties are having more interest, buyers are getting approved for loans and I’m seeing a few properties with offer dates and 3-5 offers.
Looking forward to watching this market while guiding our clients to their goals. Let us know how we can be of service.
Contact The Caton Team Sabrina 650.799.4333 | Email Info@TheCatonTeam.com
Whether you are selling or buying – today or tomorrow – contact The Caton Team – we’re happy to help you achieve your Real Estate goals.
Effective. Efficient. Responsive. The Caton Team 🏡
Contact The Caton Team 📲 Sabrina 650.799.4333 | Email Info@TheCatonTeam.com
Each market is unique and with over 35 years of combined Real Estate experience, The Caton Team is more than happy to be of service if and when you are considering a move. Contact us anytime during your journey, together we’ll help you achieve your Real Estate goals.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. How can The Caton Team help you?
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
The collapse of Silicon Valley Bank and others may drive mortgage rates lower, says NAR Chief Economist Lawrence Yun.
The demise of three banks last week has been sending shockwaves through an already fragile economy. Could it have an impact on real estate, too?
“The Silicon Valley Bank failure, along with a few other banks, means that the Federal Reserve cannot be so aggressive in raising its short-term interest rates,” says Lawrence Yun, chief economist of the National Association of REALTORS®. “Therefore, mortgage rates will decline.”
Mortgage rates had been steadily rising in recent weeks, with the 30-year fixed-rate loan averaging 6.73% last week, according to Freddie Mac. The Fed has been making a series of aggressive rate increases, which may indirectly influence mortgage rates, over the last few months. Home buyers have been up against affordability woes, as mortgage rates are nearly double what they were just a year ago.
But as of Monday, mortgage rates had fallen about 50 basis points lower than last week. Yun says that when there is a panic in the financial market, investors often shift money toward safer assets, which tends to be U.S. Treasury notes and bonds. Mortgage rates lately have tended to follow the movement of Treasury yields, which are falling.
“So, a panic in a sense leads to an automatic stimulus to the economy from lower interest rates,” Yun says in public comments on LinkedIn. “The housing sector nearly always responds to falling mortgage rates, especially when there are job additions to the economy.” And if rates do head lower, more home buyers undoubtedly would still enter the housing market in response, he adds.
Bank Failures Spark Panic
Last Friday, the shutdown of Silicon Valley Bank became the second largest bank failure in U.S. history and the largest since the 2008 financial crisis. The bank was known as a large supporter of tech startups. About 15% of the loans in Silicon Valley Bank’s portfolio were residential and commercial mortgages, The Real Deal reported. Signature Bank and Silvergate Capital, both big lenders in the cryptocurrency space, also shuttered their doors.
To help avoid mass panic, the Federal Reserve, Federal Deposit Insurance Corp. and Treasury Department created an emergency program to backstop all deposits using the Fed’s emergency lending authority. That granted depositors full access to their funds as of Monday, and the agencies vowed to make all depositors whole. Usually, banks only insure up to $250,000 per account ownership category through the FDIC, an agency that was created in 1933 after thousands of bank failures. In this case, the federal government’s move to backstop uninsured money has been viewed as an unusual step.
President Joe Biden has been offering assurance to Americans that banks are safe. He vowed on Monday to “strengthen oversight and regulations of larger banks so that we are not in this position again.”Meanwhile, the bank failures may be a sign of trouble ahead for the tech industry. “Some businesses reliant on funding from Silicon Valley Bank [and others] may lack capital to continue its business or have to cut back,” Yun says. There could be some job losses ahead as a result, especially among some California tech companies, he adds. Local housing markets may be hampered by those job losses. But “broadly across the country,” Yun says, “more home buyers will enter the market [because of] lower mortgage rates.”
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, or need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Don’t forget to set your clocks forward one hour on Sunday March 12, 2023 to Pacific Standard Time.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. How can The Caton Team help you?
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654
It’s the hottest topic in my life – where is the market headed in 2023? With another interest rate increase coming – I know my buyers are cringing as they figure out their next steps and some of my sellers are getting ready to list before the market adjusts too much. I thought I’d share this article from Wells Fargo…
Housing Outlook 2023
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The recent rise in mortgage rates has deflated optimism for a robust recovery in home sales. Even if higher in the near term, we currently expect mortgage rates to trend lower over the course of this year and next.
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Affordability stands to improve slightly this year. While financing costs are likely to remain elevated, easing inflation should help boost real income growth.
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Home prices declining should provide an additional boost to affordability. We continue to expect home prices to register year-over-year declines in 2023, with the national median existing single-family home price anticipated to fall 4.5% during the year.
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Slightly more favorable affordability conditions should help home sales stabilize and even improve a bit this year. That said, we expect the overall pace of activity to remain sluggish.
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While sales should be more lively in 2023 compared to the second half of last year, there is another potential challenge waiting down the road. Our current macroeconomic forecast calls for a mild recession to begin in the second half of 2023. Unfortunately, even mild downturns bring about rising unemployment, decreased job security and a slowdown in household formation, all of which would be formidable headwinds for housing.
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Builder incentives have proved successful in reigniting new home sales, however, single-family permits continue to trend lower. Stronger new home sales are not likely to translate into a turnaround new development until builder inventories move lower from their currently elevated levels. Consequently, we expect single-family construction to remain relatively slow this year.
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Weakening residential activity has not been experienced uniformly across the country. The affordability migration has given way to strong population and employment growth in the South, which has generally bolstered activity in those areas. Conversely, population outflows and tech industry turbulence have led Western markets like Seattle and San Francisco to experience declines in home sales and prices.
•
Supply is tight almost everywhere, which is helping prevent sharp declines in home values. Broadly speaking, significant inventory shortfalls in the Northeast have helped to shore up prices in 2022. By contrast, higher inventory levels in Mountain West appear to be generating faster price declines.
Economist(s)
Charlie Dougherty
Senior Economist | Wells Fargo Economics
Charles.Dougherty@wellsfargo.com | 212-214-8984
Jackie Benson
Economist | Wells Fargo Economics
Jacqueline.Benson@wellsfargo.com | 704-410-4468
Patrick Barley
Economic Analyst | Wells Fargo Economics
Patrick.Barley@wellsfargo.com | 704-410-1232
All estimates/forecasts are as of 3/1/2023 unless otherwise stated. 3/1/2023 9:57:22 EST. This report is available on Bloomberg WFRE40%
This report is produced by the Economics Group of Wells Fargo Bank, N.A. (“WFBNA”). This report is not a product of Wells Fargo Global Research and the information contained in this report is not financial research. This report should not be copied, distributed, published or reproduced, in whole or in part. WFBNA distributes this report directly and through affiliates including, but not limited to, Wells Fargo Securities, LLC, Wells Fargo & Company, Wells Fargo Clearing Services, LLC, Wells Fargo Securities International Limited, Wells Fargo Securities Europe S.A., and Wells Fargo Securities Canada, Ltd. Wells Fargo Securities, LLC is registered with the Commodity Futures Trading Commission as a futures commission merchant and is a member in good standing of the National Futures Association. WFBNA is registered with the Commodity Futures Trading Commission as a swap dealer and is a member in good standing of the National Futures Association. Wells Fargo Securities, LLC and WFBNA are generally engaged in the trading of futures and derivative products, any of which may be discussed within this report.
Important Information for Non-U.S. RecipientsFor recipients in the United Kingdom, this report is distributed by Wells Fargo Securities International Limited (“WFSIL”). WFSIL is a U.K. incorporated investment firm authorized and regulated by the Financial Conduct Authority (“FCA”). For the purposes of Section 21 of the UK Financial Services and Markets Act 2000 (“the Act”), the content of this report has been approved by WFSIL, an authorized person under the Act. WFSIL does not deal with retail clients as defined in the Directive 2014/65/EU (“MiFID2”). The FCA rules made under the Financial Services and Markets Act 2000 for the protection of retail clients will therefore not apply, nor will the Financial Services Compensation Scheme be available. For recipients in the EFTA, this report is distributed by WFSIL. For recipients in the EU, it is distributed by Wells Fargo Securities Europe S.A. (“WFSE”). WFSE is a French incorporated investment firm authorized and regulated by the Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers. WFSE does not deal with retail clients as defined in the Directive 2014/65/EU (“MiFID2”). This report is not intended for, and should not be relied upon by, retail clients.
SECURITIES: NOT FDIC-INSURED – MAY LOSE VALUE – NO BANK GUARANTEE
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, or need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Home – is the most important place in our lives. Where we live impacts us profoundly. We were happy to help our long time friend and client with their next steps and so grateful when we handed them the keys.
We love what we do!
How Can the Caton Team Help You?
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
IWD sees a number of MISSIONS to help forge a gender-equal world. Celebrating women’s achievements and increasing visibility, while calling out inequality, is key.
Today is the day to celebrate all the women in your life – especially your mom – without her – we wouldn’t be here.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, or need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
The RealEstateBeat by The Caton Team is starting a new feature called – Real Treats – highlighting local businesses. You can still read our REAL EATS feature – where my passion for Real Estate and food meet. However, on Real Treats – we’ll share some of our favorite services and stores on the SF Peninsula and beyond. On our next adventure, we visit….
When our clients shared their new kitchen, we loved, loved, LOVED IT! Take a look at what Lavan can do for you! Please note, we have not personally worked with Lavan, we are sharing our client’s kitchen.
The Caton Team does not receive any compensation for any posts, we use YELP for ease of use. All restaurant reviews and business reviews are unsolicited and unpaid.
Information deemed reliable but not guaranteed.
Third-party information not verified.
Get exclusive inside access when you follow uson Facebook & Instagram
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions or concerns, need a referral, or need some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. How can The Caton Team help you?
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Here’s our tri-county Market Snapshot for the weeks of 2.6.23 – 2.27.23 – there was a school holiday during these dates. 📈📊📉 Amazing to see which counties have low inventory and which have a lot. There are opportunities out there. We are seeing sales too – and with low competition – is this the market you’ve been waiting for? Let The Caton Team help you figure this out. Don’t let the media or interest rate news deter you. Where there is a will – there is a way – how can The Caton Team help you?
Each market and price point is different – Let The Caton Team guide you to your goals. 🗝️
Whether you are selling or buying – today or tomorrow – contact The Caton Team – we’re happy to help you achieve your Real Estate goals.
Effective. Efficient. Responsive. The Caton Team 🏡
Contact The Caton Team 📲 Sabrina 650.799.4333 | Email Info@TheCatonTeam.com
Each market is unique and with over 35 years of combined Real Estate experience, The Caton Team is more than happy to be of service if and when you are considering a move. Contact us anytime during your journey, together we’ll help you achieve your Real Estate goals.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions or concerns, need a referral, or need some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. How can The Caton Team help you?
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
When our client first reached out to us to sell their San Jose condo – it was in early 2022. By the time we were on the market, it was the summer of 2022 and the market had changed drastically with the uptick in interest rates. But have no fear – The Caton Team is here.
With a market re-evaluation – we priced our condo to gain the most views – and after several showings, we were able to present our seller multiple offers – to ensure they got the best price the current market could hold. A win-win for everyone involved.
Each client is unique, each market is unique – if your goal is to buy or sell California Real Estate – let us be part of your journey.
We love what we do!
How Can the Caton Team Help You?
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
It was a foggy day in 2020, the pandemic had trapped us all in our homes. The pandemic bought home to the forefront of our minds and our days, our nights, our weekends, our weekdays…
Most of us needed more home – or a home closer to family – or a home office for that matter. There were a million reasons to move and when the time came – so grateful that our clients called us – The Caton Team – to orchestrate this particular endeavor.
Our clients, then “trapped” out of state, realized how wonderful it was to be close to family. So they never came back. Popped the key in the mail and let me live out my Real Estate fantasies – to prepare a home from start to finish. Selling Palmer Ave in Belmont for these clients – is truly a peak in my career.
How often does a Realtor get to have it all? I mean – everything. From helping them hire movers to pack up their whole lives. To working with a painter and the best part – picking out the colors. My clients gave me carte blanche and it was awesome.
Mindful of the budget, it was a joy to show off this home as the gem it was. With the help of our amazing decorator, The Caton Team picked out new colors for the whole home, new fixtures, and new landscaping while our stager wowed us with her style, and our photographer captured every angle, inside and out, in 3D, in HD.
After two weeks on the market, we presented 26 eye-popping offers to our clients – and wowed them with overbidding that tallied $700,000.
Please enjoy these photos of this thrilling pandemic experience that will go down in my history books and know – no job is too big or too small – if you need a Realtor team that takes care of YOU – contact The Caton Team. We love what we do – what can we do for you?
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
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Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, or need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
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