Officially, Spring began on March 20th, but the headlines in today's Mercury News heralded the true start of the season for Realtors. Home sales in March were the highest in four years in Santa Clara County...not quite at their all-time high, but moving up, especially in the high end of the market. Last year, people in the business mourned the end of the first-time buyer tax credit, but that loss doesn't seem to have effected our local area at all.
Inventory, which has been extremely low, is finally starting to rise, although Sunnyvale sales are brisk, and we're still seeing multiple offers on most properties. But buyers also have good news...the economy is keeping interest rates extremely low which translates to lower payments.
With sunshine nearly every day, flowers in bloom, and warmer temperatures on the way,
I expect that open houses will be busier than ever.
This promises to be a season to remember.
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