In 2012, 10 years ago, the US had roughly TRIPLE the inventory of homes for sale. Today we have about 334 million people in the US versus 314 million people a decade ago, an increase of 6.34%. The US is estimated to have 353 million people in 10 year’s time. If 4 people share a home, we need to build at least 1.9 million homes per year to accommodate this rise in population. We've averaged well under that number in the past decade, about 1.29 million per year. We need a construction BOOM to meet existing and future demand.
Many have forgotten that mortgage rates began to rise after 2016 and reached their peak at the end of 2018/start of 2019 as employment and the overall economy was strong and growing. Politicians decried the Fed's rate hikes back then. Rates on a 30-year fixed rate mortgage (FRM) ran between 3.95% on the low end and 5.34% on the high end, not that much lower than today's rates.
Had you bought a home in 2007 at the peak of that market, 7 years later most home prices had recovered, notably less time than most people stay in their homes which now varies between 8 and 13 years.
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3 Bed | 3 Bath | $1,600,000 | Compass Listing
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Transparent pricing on this beautiful Echo Ridge home! Enjoy resort-style living in this popular San Ramon community which offers great facilities including 24-hour guard gate, sparkling pool & spa, tennis courts and walking trails! This home has a fantastic floor plan featuring 2 master suites upstairs and a bedroom and full bathroom downstairs. Light & bright living room with soaring ceilings, new wood floors and sliding glass door to private rear yard. Formal dining area with decorative chandelier. Upgraded kitchen with white cabinets, slab granite counters, stainless steel appliances and eat-in nook. Separate laundry room with utility sink. Tranquil rear yard with spacious patio area, great for relaxing and unwinding!
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5 Bed | 3 Bath | $2,250,000 | Compass Listing
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Welcome to 430 Pennington Place! An end of cul-de-sac home in one of Danville’s favorite neighborhoods. The public rooms are well proportioned & offer great flow and views. Convenience and livability are enhanced with a full bath downstairs, a large and sunny flex space with a separate exterior entrance that could function as an office, studio or guest bedroom, and a 280 sf workshop (not counted in square footage). The yard is a nearly flat .37 acre - Swimming pool with a new (2021) lake blue plaster finish, super cute playhouse/storage shed with power, multiple entertaining and dining options, a big sprawling lawn, and a wide variety of mature shade trees. The Sycamore neighborhood is simply the best - close to Town, schools, and trails.
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1862 El Nido, Diablo, CA 94528
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4 Bed | 2+ Bath | $3,249,000 | Compass Listing
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Live the dream in exclusive Diablo Country Club. Welcome to 1862 El Nido! Located on the 5th green of East Bay's gem, Diablo Country Club and Golf Course. Spectacular views of 5th hole/7th fairway, and Mt. Diablo. Walking distance to club/golf course/amenities/post office. This beautiful 4 bedroom/4 bath, office, bonus room, is a perfect floor plan, for empty nesters and/or families with children. Master on main level. Natural lighting throughout and views from every room. Open floor plan and an entertainer's dream. Huge bonus room downstairs with yard access. Tons of storage space and extra large lot with room for a pool. Come and see this beautiful home and everything it has to offer.
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6 Bed | 7 Bath | $18,000,000 | Compass Listing
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Primely positioned and beautifully designed, this exceptional Martis Camp estate offers a rare duality of experiences: the tranquility of a secret mountain hideaway juxtaposed with the close proximity of this community’s vibrant amenities. Set on 2.4 acres, over 9,000 sf of living space flows seamlessly into expansive outdoor patios and loggia rendering an inviting home to enjoy all seasons. Timeless grandeur blend with modern amenities resulting in a transportive legacy retreat with a coveted golf option.
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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