Geek's Number Talk: The Impacts of Rising Mortgage Rates.

It should come as no surprise that rising mortgage interest rates have a direct impact on home buyers and sellers. These two charts help make those impacts crystal clear, especially when it comes to purchasing power, inventory, and selling price. As you can see, an interest rate increase of just 0.5% triggers a 4.4% increase in home price but also a 4% decrease in active listings.

Meanwhile, the median house price is down 4.7% month-over-month but still up 4.5% over last year. This means home affordability is tracking down, so the time to act is now, or you risk waiting out the current economic fluctuations.

Geek's Number Talk: Market Analysis for You

As we discussed in this week’s Chic vs. Geek, our job as real estate agents is to provide buyers and sellers with nuanced perspectives on their properties. One key element in setting home values is a Comparable Market Analysis that looks at sales activity for similar homes. Send us an email to request a report today!

Geek's Number Talk: Foreign National Homebuyers

It’s hard enough remaining competitive in the housing market when inventory is down and interest rates are up. It gets even harder when many homes are purchased by foreign nationals and businesses. Typically, these homes sit vacant, taking up space while their owners wait for a chance to flip for a profit.

Geek's Number Talk: 2, 4, 6, 8, How do we appreciate?

Sales may be down right now, but median prices are still up year-over-year. This is especially true in San Mateo County, where the market has seen a 13% rise since 2021. It’s a healthy reminder that the more things change, the more they stay the same.

Protecting your household budget from inflation.

What we refer to as “inflation” is generally measured by the Consumer Price Index, a measure of average prices for basic necessities like gas, food, and housing. The CPI jumped more than 9% from June 2021 to June 2022, hitting a new 40-year high in the process.

So how can you keep inflation from affecting your wallet? The Skimm has a few tips.