Fresno, California 2021-02-23 21:55:58 –
“This time, the house I just bought was on the market for three days, and it’s very competitive with eight offers across the listing price,” said Kimberly Duke, a local buyer.
The Duke family is from Fresno. They say buying a home in 2021 is a very different experience than it was years ago. They actually decided to jump into their next home immediately for the market.
They will sell out later after moving.
“There may be a lot of it, so we decided to buy the house first and sell it later. There are a lot of people who buy a house, and it’s very competitive,” Andrew said. Duke said.
Action News spoke with realtor Don Scordino. He has been in the market for 40 years and says this is not what he has ever seen.
“This is the buyer’s market, the seller’s market. You might wonder why it’s the buyer’s market when the competition is fierce. When you get home, the 30-year fixed rate is very low. Because, “Scodino said.
He says most homes go public within the first 3-4 days of receiving multiple offers.
If pricing and offerings are appropriate, they are above the listed price and are causing valuation issues.
Scordino says cash means a lot now.
So where do the buyers come from?
“This will surprise people. Most people think they’re all from the Bay Area. Most of the buyers are from the local area and they’re moving. It’s now. It’s a moving market, “said Scordino.
Inventories are low, causing competition.
Fresno County has a list of 1,500 listings, with 1,100 escrowed. The median housing in Fresno County is $ 310,000.
According to Scordino, the pandemic has made more people appreciate the value of homes and spaces.
They are not seeing this market change immediately, as low interest rates are creating affordable prices.
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Housing market booming in Fresno County Source link Housing market booming in Fresno County