讀後心得

According to the latest report from the real estate brokerage firm Redfin, in February, among the 50 most populated metropolitan areas in the United States, the rate of homes selling for more than the listing price increased in 8 areas, with the San Francisco Bay Area and New York accounting for half. San Francisco's sales ratio reached 57.2%, an increase of 7.5 percentage points compared to last year, marking the largest increase. As demand rebounds post-pandemic, market activity has not yet reached pre-pandemic levels, although housing inventory has started to rise. Redfin emphasized that the Bay Area has the highest proportion of sales above the listing price in the nation, and the growth rate is the fastest.

According to the latest report from a real estate brokerage, among the 50 most populous metropolitan areas in the United States, there are 8 regions where the percentage of homes sold above the original asking price increased in February, with half of them coming from the San Francisco Bay Area and New York. In February, 57.2% of homes sold in San Francisco had a sale price above the original asking price, which is a 7.5 percentage point increase from the same time last year, making it the largest increase among the 50 metropolitan areas in the U.S. Next 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, the demand for home buying in the Bay Area plummeted, as many chose to move away from major metropolitan areas due to the impact of working from home, but demand has gradually rebounded in recent years.

A real estate agent stated, "The Bay Area has countless well-funded buyers." He mentioned that although many thought the increase in home prices could not be sustained more than a decade ago, they continue to rise today. This is partly due to a lack of housing supply on the market and partly due to the ongoing development of the tech industry, despite existing stock market volatility and geopolitical uncertainties. He pointed out that the housing market in February heated up due to suppressed demand, but the market momentum weakened in March as buyers were waiting for more homes to come onto the market. He emphasized that the current market activity is still not on par with pre-pandemic levels.

He recalled a recent home purchase bid submitted for a client in a popular community in San Jose, which attracted 22 bidders, and the house ultimately sold for about 10% above the asking price, a fairly common occurrence. "In 2017 or 2018, homes in popular communities would typically sell for more than 15% above the asking price, indicating that the current market is more rational compared to that time."

Notably, housing inventory in the Bay Area has started to rebound. In February, the number of active listings in San Francisco increased by 5.8% year-on-year, while San Jose and Oakland rose by 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 asking price, as many sellers are accustomed to listing at lower prices to stimulate bidding wars. Therefore, the report specifically highlights the annual changes to show that the Bay Area not only has the highest percentage of sales above asking price but also the fastest growth rate in this trend nationwide.

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