Reali Roundup: CA Sellers on Cruise Control, Buyers Take Shortcuts

Another Saturday has arrived, California! As we ease into spring (21 days to go!), there’s fresh housing market data you need to check out, especially if you’re thinking even a little bit about selling your house. On the buyer side, we’re looking into encouraging rumblings out of Berkeley about finally ending single-family zoning. Onward!

TX Could Use Some of This CA Market Heat

The California Association of Realtors (CAR) just released their latest figures and guess what? California’s real estate market is a beast, folks. With traditionally-slower January’s median home prices posting the biggest gains in seven years, a 12-day on-the-market average, and 53% fewer listings than this time last year, the CA housing market can pretty much melt lead with its gaze at this point. So, if you’ve ever had even the faintest urge to sell, this iron ain’t getting much hotter.

“The market outlook is stronger than previously projected as buyer demand continues to outstrip supply, but we do expect the current robust market growth to decelerate later this year,” CAR chief economist Jordan Levine said. The takeaway: we’re witnessing a once-in-a-generation opportunity for sellers, akin to bitcoin’s explosion onto the currency scene. These market conditions are unlikely to return soon (17 years is kind of a long time, after all), so let’s get the party started.

Buyers, the Calvary is Coming

If you’re in the market for a new home, you’re probably frustrated. We hear you. Real estate is broken and we’re here to fix it. How? For starters, our cash offer program, which produces higher acceptance rates and helps you save money. Meantime, here’s some more encouraging news on the buyer-front:

First-time buyers shocked at what they can afford. A recent survey of 1,000 potential first home buyers found that 47% actually had more room in their budget than they initially thought, so let’s see if you’re one of them.
In what could be signs of a sea change for buyers, Berkeley is following Sacramento’s lead and voting to end single-family zoning by 2022. Though controversial, the move would begin addressing the region’s housing crisis and history of discriminatory housing policies.
For those 55+ and ready to make a move, don’t forget the recently-passed Prop 19’s tax break, which takes effect April 1 and allows qualified buyers to transfer the taxable value of their primary residence to a replacement residence anywhere in the state.

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That’s all for now, friends! No holidays this week, now go out there and enjoy your Saturday!