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Fresno/Clovis Real Estate News
Allie and Jesse traveled up to the great white north to celebrate their 12th wedding anniversary. They met with great family friends, explored the city, learned about the history of the city, and ate like kings. Such a great time of connecting and reflecting.
Market News
2019's Housing Market Likely to Be Stronger than Expected
A single percentage point change may not seem significant, but in the grand scheme of things, that can add more than $100 to a monthly payment on a median-priced home of $300,000, assuming the buyer puts 20% down. This in turn can become tens of thousands of dollars over the life of a 30-year mortgage.
The anticipated uptick in activity can be attributed to lower mortgage rates, which make homes more affordable for buyers. The economic team expected rates to rise to 5.5% in 2019, but they have hovered around 4%. Rates are predicted to rise to about 4.5%, which is still below a tipping point for buyers.
edicted, that according to economists at Realtor.com. This means that more home sales and higher prices are on the horizon.While a real estate slowdown in taking hold across the country, the housing market is expected to be busier than originally pr
A plus for sellers is that prices are expected to rise about 2.9% versus the originally predicted 2.2%. Buyers will be motivated by the lower mortgage rates, which will increase demand and thus prices. In terms of home sales, economists forecast the number will hold steady, dipping just 0.3%, a number that was originally believed to be down 2%.
The main reason the market has slowed down is that sellers, seeing the end to the days of high prices, rushed to put their homes on the market. This happened at the same time that many buyers were backing off, because of these same high prices, leading to a glut of supply, which lowered price growth and sales. These conditions vary by local markets, with some still having a shortage of housing and others with prices too high for buyers.
May by the Numbers*
Fresno Multiple Listing Service Numbers
- Number of homes for sale 2018 vs. 2019 - 2278 vs 2564
- Median price of sold homes in 2018 vs. 2019 $292,000 vs. $292,000
- Months of homes in inventory before closing in 2018 vs. 2019 - 1.9 vs. 2.4
Unless otherwise specified, all numbers are Fresno County through 5/19.
Client Quote
The Penner team blew my socks off! They were polite, professional, and kind. Our house sold really quickly at above asking and it was all due to the resourceful and knowledgable staff. We would work with them again in a heartbeat!
Zach Smith - 1629 N Arthur
Featured Listing
1867 Whiteash Ave. Clovis, CA. 93619
- 4 Bedroom 4 Bathroom
- 2839 Sq Ft
This stunning home has it all. Built in 2015, this home has 2839 sq ft, 4 bedrooms, 3.75 bathrooms. As you walk into the home you see the large, bright living room with elevated ceilings, rich laminate wood flooring, a spacious formal dining room area, and tons of natural light. The gorgeous kitchen has a gas freestanding range over, stainless steel appliances, gas appliances, stylish white cabinets, a great pantry, and opens into the eating area and living room. Rounding out the downstairs is an isolated bedroom and bathroom with paneled walls, perfect for an in-law set up. Upstairs is a great loft and 3 other bedrooms. The master suite has a large walk-in closet complete with closet organizers, a his/her vanity, clean white tile, a separate soaking tub and great tile floors. Across the hall is another large bedroom with an attached bathroom. The backyard has a large covered patio, a grass area, a cinderblock back fence, is eastward facing for evening shade. This is a must see!
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