Theresa Wang

11/10/2022

Grateful for all my amazing clients!

06/10/2022

West Coast condo market reports

Higher mortgage rates and recession concerns are keeping buyers on the fence.

07/12/2021

A combination of depleted inventory and increasing demand are firming prices across West Coast condo markets.
Single family markets? Only crazier... There hasn't been a slowdown as the market normally would in winter months.

15/09/2021

West Coast condo markets continue to recover. Strong sales volumes continue to deplete existing inventory.

07/07/2021

June Condominium market report - inventory is low in all West Coast markets, and the bidding war continues...

28/06/2021

Whether you think the pandemic is ending or not, 47 out of 50 states has reopened (the other 3 is opening this week). Hotel occupancy rate is almost back to pre-Covid median.

Did you know that hotel occupancy trend is almost the opposite housing market seasonal trend? People are traveling more during summer break and have no time for buying, selling and moving. Less inventory and weaker competition comparing to Spring. Once school starts again in Fall, activities pick up till around end of October before the holidays.

However, if you’re buying primary residence, no need to time the market since your perfect home is not always on market.

18/05/2021

1. Mills had to stop production during Covid
2. People took the opportunity to start all kinds of home improvement projects
3. Housing market boomed because of the low mortgage rate.

1+2+3 = 400% increase in lumber prices

09/04/2021

Construction cost went up 9.8% in the last 12 months. Where is the home price going?

30/03/2021

Housing market is crazy everywhere in the country... why?

1️⃣People who are able to purchase a house are in industries that were less impacted by COVID.
2️⃣Mortgage rate is historically low which gives them more purchase power
3️⃣Stock market is doing very well
4️⃣Very low inventory

It’s a war zone out there🔥

Millions of homeowners took advantage of record low interest rates over the past year to refinance into a lower rate, more affordable payment or shorter loan term on their current mortgage. Those h…

03/03/2021

SF condo market dropped the most comparing to other Metro Cities in the West Coast. Given the inventory is still 16% higher than last year, the situation is likely to continue.

Bay Area, on the other hand, although price only increased 3.7%, inventory dropped 45.5% comparing to last year. The price is going to go up very soon