Helping our clients facilitate the sale of their San Carlos home while moving away required all the gears to work together smoothly – but that’s what The Caton Team does. Our team helped our client empty her home, prepare the home for sale with thoughtful and strategic updates, and organize the decorator, photographer, and all the inspections.
The day before our open house, a smart buyer’s agent did what they had to do to represent their buyers.
Our sellers were over the moon with such a great offer knowing these clients LOVED their home.
Representation Matters. Agents working exclusively for each side is imperative to find that middle ground where all clients are satisfied and elated.
We love what we do – How can The Caton Team help You?
We truly enjoy helping our clients sell and buy their homes. The Caton Team loves what we do and would love to help you – please enjoy our resources below. Get to know us at 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, 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?
Here’s the latest stats! Sales are UP from January! It is amazing to see the seasonal changes in Real Estate. We expect a healthy Spring Market and we’re starting to see new properties come on the market.
Need help navigating this market? We’re happy to be of service. Reach out 650.766.4333 | 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 🏡
Each market is unique and with over 40 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 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 for a personal consultation. Please enjoy our free resources below and get to know our team 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, 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.
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?
If you want to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below):
This recent trend is great news for buyers. As a recent article from Bankratesays:
“The rate cool-off somewhat eases the housing affordability squeeze.”
And according to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA):
“MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .”
Here’s a bit more context on how this could help with your plans to buy a home.
How Mortgage Rates Affect Your Search for a Home
Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to become a homeowner. The chart below illustrates how your ability to afford a home changes when mortgage rates shift. Imagine your budget allows for a monthly payment between $2,400 and $2,500. The green part in the chart shows payments in that range or lower (see chart below):
As you can see, even small changes in rates can affect your budget and the loan amount you can afford.
Get Help from Reliable Experts To Understand Your Budget and Plan Ahead
When you’re looking to buy a home, it’s important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you.
By looking at the numbers and the latest data together, then adjusting your strategy based on today’s rates, you’ll be better prepared and ready to buy a home.
Bottom Line
If you’re looking to buy a home, you should know the recent downward trend in mortgage rates is good news for your move. Team up with The Caton Team – with over 45 years of combined, local Real Estate experience – we are here to help you achieve your Real Estate Goals!
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |Susan 650.796.0654 | 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 for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Effective. Efficient. Responsive. The Caton Team 🏡 How can The Caton Team help You?
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 – 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?
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 🏡
Each market is unique and with over 40 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 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 for a personal consultation. Please enjoy our free resources below and get to know our team 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, 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.
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 the latest stats! As expected, December was a bit slow but then again it always is. Part of it is seasonal and part are the higher rates with buyers on the fence. We did see an uptick on Luxury Home/Condo sales.
Need help navigating this market? We’re happy to be of service. Reach out 650.766.4333 | 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 🏡
Each market is unique and with over 40 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 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 for a personal consultation. Please enjoy our free resources below and get to know our team 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, 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.
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?
One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why
There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.
Underbuilding Is a Long-Standing Problem
One of the big reasons inventory is low is because builders haven’t been building enough homes in recent years. The graph below shows new construction for single-family homes over the past five decades, including the long-term average for housing units completed:
For 14 straight years, builders didn’t construct enough homes to meet the historical average (shown in red). That underbuilding created a significant inventory deficit. And while new home construction is back on track and meeting the historical average right now, the long-term inventory problem isn’t going to be solved overnight.
Today’s Mortgage Rates Create a Lock-In Effect
There are also a few factors at play in today’s market adding to the inventory challenge. The first is the mortgage rate lock-in effect. Basically, some homeowners are reluctant to sell because of where mortgage rates are right now. They don’t want to move and take on a rate that’s higher than the one they have on their current home. The chart below helps illustrate just how many homeowners may find themselves in this situation:
Those homeowners need to remember their needs may matter just as much as the financial aspects of their move.
Misinformation in the Media Is Creating Unnecessary Fear
Another thing that’s limiting inventory right now is the fear that’s been created by the media. You’ve likely seen the negative headlines calling for a housing crash, or the ones saying home prices would fall by 20%. While neither of those things happened, the stories may have dinged your confidence enough for you to think it’s better to hold off and wait for things to calm down. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:
“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”
That’s further limiting inventory because people who would make a move otherwise now feel hesitant to do so. But the market isn’t doom and gloom, even if the headlines are. An agent can help you separate fact from fiction.
How This Impacts You
If you’re wondering how today’s low inventory affects you, it depends on if you’re selling or buying a home, or both.
For buyers: A limited number of homes for sale means you’ll want to seriously consider all of your options, including various areas and housing types. A skilled professional will help you explore all of what’s available and find the home that best fits your needs. They can even coach you through casting a broader net if you need to expand your search.
For sellers: Today’s low inventory actually offers incredible benefits because your house will stand out. A real estate agent can walk you through why it’s especially worthwhile to sell with these conditions. And since many sellers are also buyers, that agent is also an essential resource to help you stay up to date on the latest homes available for sale in your area so you can find your next dream home.
Bottom Line
The low supply of homes for sale isn’t a new challenge. There are a number of long-term and short-term factors leading to the current inventory deficit. If you’re looking to make a move, connect with a real estate agent. That way you’ll have an expert on your side to explain how this impacts you and what’s happening with housing inventory in your area.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |Susan 650.796.0654 | 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 for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Effective. Efficient. Responsive. The Caton Team 🏡 How can The Caton Team help You?
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 – 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?
You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.
One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.
Housing supply comes from three main sources:
Homeowners deciding to sell their houses
Newly built homes
Distressed properties (foreclosures or short sales)
Here’s a closer look at today’s housing inventory to understand why this isn’t like 2008.
Homeowners Deciding To Sell Their Houses
Although housing supply did grow compared to last year, it’s still low. The current months’ supply is below the norm. The graph below shows this more clearly. If you look at the latest data (shown in green), compared to 2008 (shown in red), there’s only about a third of that available inventory today.
So, what does this mean? There just aren’t enough homes available to make home values drop. To have a repeat of 2008, there’d need to be a lot more people selling their houses with very few buyers, and that’s not happening right now.
Newly Built Homes
People are also talking a lot about what’s going on with newly built houses these days, and that might make you wonder if homebuilders are overdoing it. The graph below shows the number of new houses built over the last 52 years:
The 14 years of underbuilding (shown in red) is a big part of the reason why inventory is so low today. Basically, builders haven’t been building enough homes for years now and that’s created a significant deficit in supply.
While the final blue bar on the graph shows that’s ramping up and is on pace to hit the long-term average again, it won’t suddenly create an oversupply. That’s because there’s too much of a gap to make up. Plus, builders are being intentional about not overbuilding homes like they did during the bubble.
Distressed Properties (Foreclosures and Short Sales)
The last place inventory can come from is distressed properties, including short sales and foreclosures. Back during the housing crisis, there was a flood of foreclosures due to lending standards that allowed many people to get a home loan they couldn’t truly afford.
Today, lending standards are much tighter, resulting in more qualified buyers and far fewer foreclosures. The graph below uses data from the Federal Reserve to show how things have changed since the housing crash:
This graph illustrates, as lending standards got tighter and buyers were more qualified, the number of foreclosures started to go down. And in 2020 and 2021, the combination of a moratorium on foreclosures and the forbearance program helped prevent a repeat of the wave of foreclosures we saw back around 2008.
The forbearance program was a game changer, giving homeowners options for things like loan deferrals and modifications they didn’t have before. And data on the success of that program shows four out of every five homeowners coming out of forbearance are either paid in full or have worked out a repayment plan to avoid foreclosure. These are a few of the biggest reasons there won’t be a wave of foreclosures coming to the market.
What This Means for You
Inventory levels aren’t anywhere near where they’d need to be for prices to drop significantly and the housing market to crash. According to Bankrate, that isn’t going to change anytime soon, especially considering buyer demand is still strong:
“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equationsimply won’t allow a price crash in the near future.”
Bottom Line
The market doesn’t have enough available homes for a repeat of the 2008 housing crisis – and there’s nothing that suggests that will change anytime soon. That’s why housing inventory tells us there’s no crash on the horizon.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |Susan 650.796.0654 | 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 for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Effective. Efficient. Responsive. The Caton Team 🏡 How can The Caton Team help You?
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 – 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?
Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.
To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.
Experts Project Ongoing Appreciation
While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group.
The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices over a five-year period. It includes projections from over 100 economists, investment strategists, and housing market analysts. And the results from the latest quarterly release show home prices are expected to go up every year through 2027 (see graph below):
And while the projected increase in 2024 isn’t as large as 2023, remember home price appreciation is cumulative. In other words, if these experts are correct after your home’s value rises by 3.32% this year, it should go up by another 2.17% next year.
If you’re worried home prices are going to fall, here’s the big takeaway. Even though prices vary by local area, experts project they’ll continue to rise across the country for years to come at a pace that’s more normal for the market.
What Does This Mean for You?
If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using the expert projections from the HPES. Check out the graph below:
In this example, let’s say you bought a $400,000 home at the beginning of this year. If you factor in the forecast from the HPES, you could potentially accumulate more than $71,000 in household wealth over the next five years.
Bottom Line
If you’re someone who’s worried home prices are going to fall, rest assured a lot of experts say it’s just the opposite – nationally, home prices will continue to climb not just next year, but for years to come. If you have any questions or concerns about what’s next for home prices in your local area, connect with a real estate agent.
My two cents – we see the market soften around the holidays every year, so part of this is seasonal. The other part are higher rates than buyers are used to, so we’re slowly seeing buyers to reviewing their new budget and find homes in their new price range.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |Susan 650.796.0654 | 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 for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Effective. Efficient. Responsive. The Caton Team 🏡 How can The Caton Team help You?
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 – 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 the latest stats! San Mateo County is adjusting, seeing prices coming down with the condo market taking the biggest hit. Looks like Santa Clara is holding firm and even seeing some gains.
It’s early December now and we’re seeing a slow down in the market. Part of it is seasonal and part are the higher rates. Clients that have to move may be willing to help buy down the rate with a credit or adjust the price – you never know till you try. Need some help navigating this market- we’re happy to chat and be of service. Reach out 650.766.4333 | 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 🏡
Each market is unique and with over 40 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 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 for a personal consultation. Please enjoy our free resources below and get to know our team 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, 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.
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 it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.
Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.
1. What’s Next for Mortgage Rates?
Mortgage rates are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can afford. That’s why so many buyers want to know what’s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here’s what we know based on historical trends.
There’s a long-standing relationship between mortgage rates and inflation. Basically, when inflation is high, mortgage rates tend to follow suit. Over the past year, inflation was up, so mortgage rates were as well. But inflation is easing now. And this is why the Federal Reserve has recently paused their federal funds rate hikes, which means many experts believe mortgage rates will begin to come down.
And in some ways, we’ve started to see hints of slightly lower mortgage rates in recent weeks. But it’s certainly been volatile and will likely continue to be that way going into next year. Some ongoing variation is to be expected, but the anticipation is, that in 2024, we’ll see a downward trend. As Aziz Sunderji, Strategist at Home Economics,says:
“The bottom line is that interest rates are likely to be lower-perhaps even lower than many optimists think – in the weeks and months to come.”
2. Where Are Home Prices Headed?
While there’s been a lot of concern prices would come crashing down this year, data shows that didn’t happen. In fact, home prices are rising in most of the nation. Experts say that trend will continue, just at a slower pace that’s much more normal for the housing market – and that’s a good thing.
To help show just how confident experts are in this continued appreciation, take a look at the Home Price Expectation Survey from Pulsenomics. It’s a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. As the graph below shows, the consensus is, that prices will keep climbing next year, and in the years to come.
3. Is a Recession Around the Corner?
While recession talk has been a common thing over the past few years, there’s good news on that front.
The Wall Street Journal (WSJ) polls experts on this topic regularly. And last year at this time, most of them thought a recession would have happened by now. But as experts look at all the leading indicators today, they’re changing their minds and saying a recession is getting less and less likely. The latest results show that more experts now think we’re not headed for another recession (see chart below):
This is big news for the housing market. And while the 48% to 52% split may seem close to half and half, the key thing to focus on is that the majority of these experts think we’ve avoided a recession already.
Bottom Line
The big takeaway? The data shows there isn’t cause for concern – there are actually more signs of hope. Reach out to a local real estate agent to talk more about the housing market questions on your mind heading into the new year.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |Susan 650.796.0654 | 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 for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Effective. Efficient. Responsive. The Caton Team 🏡 How can The Caton Team help You?
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 – 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 Real Estate Beat 
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