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January Market Update

Buyer confidence picked up in December which is reflected in January sales.

Nearly twice as many homes sold in Jan ’24 vs Jan ’23 (13 vs 7), 5 of which were over $3MM. If priced properly to start, they sold quickly. Buyer’s confidence increased after Thanksgiving as their purchasing power continues to recover from last October’s painfully high rates AND there are more Sellers are getting off the sidelines and listing. Prices are still strong due to more demand than supply.

Duplexes, condos and leases were also stronger. No question the stock market performance boosted confidence.

Agents and Sellers are working had and more inventory is coming after the rains. Buyers are ready.

The Fed left interest rates alone at the Jan 30th meeting for the 4th consecutive meeting and acknowledged the progress it’s making with inflation — but stopped short of indicating that rate cuts are around the corner.

Now for the big question 🏈
49ers or Chiefs??

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