uyers searching for a new home in the last few months have certainly noticed a big difference in the pulse of the real estate market .

presenting themselves . This has caused more buyers to compete for each listing , leading to a multiple offer market . Houses selling for over the asking price are causing a ripple effect in the market and driving up the price of the next sale a little higher . This pattern has generated a market for sellers .

The June market slowed somewhat due in part to graduations , weddings , and vacations . Prices leveled off at some price points , some homes stayed on the market longer and many homes are still getting multiple offers . But overall , sellers are finding it ’ s a good time to sell . More listings are now coming to the market and buyers have more homes to choose from at various price points . Mortgage interest rates have been rising quickly over the past eight weeks . As mortgage bonds sell , interest rates rise . So , barring any unexpected negative economic news , we expect the rising rate trend to continue . Interest rates , even though higher than in the recent past , are still at a great rate for the consumer .

The housing market is starting to rise with each sale in most cases , and in many areas , has had a sharp rise from a year ago . The trends are upward movement and the faster a buyer purchases a home the more likely they are to secure a good price for the home while insuring a good interest rate .

As the market rebounds it is a prime time to jump in - whether selling or buying . Sellers are receiving a higher price than in many years and buyers , seeing the market rise , are buying right after the market hit bottom . What a great time for both buyers and sellers . This market does not happen often . Typically , we have either a buyers or sellers market . Is it time for you to jump in ?

Silicon Valley has typically been a benchmark for national housing prices as we are usually the last to go down with the market and one of the first to recover .

Aren ’ t we lucky to be living in one of the most beautiful valleys with a great downtown , good schools , a spirited and friendly community with many amenities that are only found in our area ? It is no wonder our neighbors from the north want to make our wonderful area their home .

Local Trends Single Family Residential in Morgan Hill

By Teri Nelson , Realtor Intero Real Estate Services

408.201.0160

BRE # 00858151