Concord Real Estate News (March 1, 2018)
Check out some of the latest local real estate news headlines. Most of us know that there is a shortage of housing in the Bay Area. However, many do not know that a shortage of construction workers is one of the forces driving this. To illustrate the demand that contributes to this shortage, the Redfin Housing Demand Index started 2018 with its highest January reading on record. Finally, read one landlord’s story of how his tenants chose to join him when he decided to sell and move out of the Bay Area. The Mercury News is reporting that there are more home browsers than buyers looking at homes for sale.
Hidden cost of housing: How a shortage of construction workers is making our crisis worse
As the Bay Area scrambles to find housing for its growing population, developers are running into another kind of shortage: There aren’t enough construction workers to build the homes the region needs…
The challenge of finding workers only exacerbates the Bay Area’s housing shortage. Despite a dramatic increase in permits for residential construction since 2009, construction jobs have increased at less than one tenth the pace of permits. As a result, wages and the overall cost of building are increasing, forcing some developers to delay projects or, in some cases, not build at all. Read More…
Redfin Housing Demand Index Started 2018 With Its Highest January Reading on Record
More Buyers Toured Homes Than a Year Earlier, but Fewer Made Offers. Read More…
Enough is enough: Tenants join landlord in Bay Area exodus
SAN JOSE – Tony Hicks moved to San Jose in 1981, but he’s had enough.
Hicks told his 11 tenants he would soon place the three homes he owns on the market. He expected disappointment. Instead, most wanted to move with him to Colorado…
The groundswell to leave Silicon Valley — the place of fortunes, world-changing tech and $2,500 a-month-garage apartments — has been building. For at least the last nine months, the San Francisco metro area has led the nation in the number of residents moving out, according to a survey by online brokerage Redfin. Read More…
More browsers, fewer home buyers in hot Bay Area real estate market
The New Year brought lots of home shoppers, but not so many home buyers.
Bay Area residents continued to show strong interest in home ownership in January, despite rising mortgage rates and home prices, according to a study by real estate brokerage Redfin. Demand hit record levels across the country for the typically slow winter month. Read More…
Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.
To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.
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Peter is a real estate broker serving Central Contra Costa County. He and his family live in the Dana Estates Neighborhood.
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