讀後心得

According to a report by Redfin, among the 50 largest metropolitan areas in the United States, there are 8 regions where the rate of homes selling above the original listing price increased in February, with San Francisco leading at a transaction rate of 57.2%, marking the largest increase. As housing demand has begun to recover, the area is gradually attracting wealthy buyers. Although market momentum showed some signs of weakening in March, the number of active listings increased, indicating a certain level of competition. The report indicates that the trend of high-priced transactions in the San Francisco Bay Area is growing at the fastest rate in the nation.

According to the latest report, among the 50 most populous metropolitan areas in the United States, 8 regions saw an increase in the percentage of homes sold above the original listing price in February, with half coming from the San Francisco Bay Area and New York. In February, 57.2% of homes sold in San Francisco had a sale price higher than the original listing price, up 7.5 percentage points compared to the same period last year, marking the largest increase among the top 50 metropolitan areas. Following San Francisco are Nassau County in New York at 4.4%, San Jose at 3.5%, Milwaukee at 2.7%, San Antonio at 2.4%, and New York City at 2.2%.

During the pandemic, housing demand in the Bay Area significantly decreased as many chose to move away from major metropolitan areas due to remote working, but demand has gradually rebounded in recent years. A senior real estate agent at Redfin mentioned that the Bay Area has many affluent buyers. Although more than a decade ago, the market believed that price growth was unsustainable, home prices are still continuing to rise. This is due to a lack of supply in the housing market and the continued growth of the tech industry, despite ongoing stock market volatility and geopolitical uncertainties.

He pointed out that the housing market in February heated up due to pent-up demand, but market momentum weakened in March as buyers awaited more listings. The current market activity is still below pre-pandemic levels. He shared an example where a recent home offer submitted for a client in a popular San Jose neighborhood had 22 bidders, and the home ultimately sold for about 10% above the listing price, a situation that is quite common.

He also mentioned that in 2017 or 2018, homes in popular neighborhoods would typically sell for more than 15% above the listing price, indicating that the current market is more rational compared to that time. Additionally, housing inventory in the Bay Area has started to recover, with the number of active listings in San Francisco increasing by 5.8% year-over-year in February, while San Jose and Oakland saw increases of 27% and 38.7%, respectively. The San Francisco Bay Area has long been one of the regions with the highest percentage of homes sold above the listing price, mainly due to many sellers opting to list at a lower price to stimulate bidding wars. Therefore, this report particularly emphasizes annual changes to highlight that the Bay Area not only has the highest percentage of sales above listing prices but also the fastest growth rate in this trend nationwide.