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Some Data that Challenges the Media…

First of all, during this crazy Holiday season, I want to wish you the warmest Holiday wishes! While we can’t be with all of our loved ones or do many of the things we love, I hope you’re able to find some joy, even if that is just in knowing that 2020 is almost over!!

In other news (or as a distraction), I’m excited to share this market report with you. Even I was surprised when I pulled the data! I encourage you to skim the data, but here’s the TL;DR:

California Leads the Way
Despite everything we’ve been through and what the media says about everyone “bailing from California,” CA markets are actually leading the way nationally, particularly at the higher end of the market (above $2M). In fact, the amount of home equity in CA is outpacing the rest of the country.

Prime Opportunity for First Time Home Buyers 
That said, San Francisco prices are down slightly. AKA: First time home buyers who have been priced out for so long may now be priced in over the next ~3 quarters. (Exactly how long will, of course, depend on the vaccine rollout.) Plus, with conforming loan limits increasing in 2021, you can get loans with less money down. In addition, buyers can have extra leverage. I’m getting many offers accepted with contingencies, giving buyers more breathing room when making such a big decision.

People are Wearing Pants Again
Yes, you heard that right…people are wearing pants again! Apparel stocks (which are an indicator of the economy that we keep an eye on) are on the rise. 


Stay well. Stay safe. Happy Holidays! 

P.S. Reach out if you’re curious about how to still *safely* see homes during this time.

🇺🇸

A graph that shows how the US economic activity has rebounded to the floor of the Great Recession.
Graph predicting economic activity with covid vaccine distribution.
Vaccine news and election cycle certainty have tempered market volatility
Number showing that more economic stability and low rates continue to drive mortgage originations with California markets leading the way.
graph that shows delinquency rates are on the rise despite robust mortgage origination volume.
graph showing the home equity growth in california is outspacing the rest of the country
graph that shows home prices in california have reached a record breaking high with the highest of 64% except san francisco with -1.5%.
graph showing how apparel stocks are on the rise.
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