November 2023 Marin County & San Francisco Real Estate Market Reports

November 2023 Marin County & San Francisco Real Estate Market Reports

  • Marks Realty Group

Rising Interest Rates Continued to Impact Supply & Demand in October, But Early November Brings Big Shift in Economic Indicators


The heart of the autumn selling season was dominated by global conflict, falling stock markets - and interest rates jumping to their highest point in 23 years, further discouraging buyers who require financing, and prospective sellers reluctant to abandon their current loan terms. Then on November 1st, the October jobs report came out, the Fed extended their pause on raising its benchmark rate, and the Treasury Department issued revised guidance pertaining to upcoming bond sales - and by November 3ra, stock markets had logged their best week of the year, and interest rates had seen a near-record decline. 

The housing market typically begins its big, holiday slowdown in mid-November, with listing and sales activity declining to annual lows. Considering the volatility that has characterized economic and political conditions, it's too early to speculate on how these shifts will play out in the coming days, weeks and months. Ideally, rates will continue to normalize and consumer confidence to recover into the new year, with significant improvements to both housing affordability and the equation for homeowners contemplating a sale.

Even if the expected holiday slowdown occurs, sellers of appealing, well-prepared and well-priced homes may still see a quick sale with multiple offers: There are still qualified buyers actively looking to purchase (with financing or all cash). For buyers, mid-winter usually offers reduced competition for listings, and an enhanced ability to aggressively negotiate prices on unsold properties: It can be an excellent time to buy for those who stay in the game.


As always, reach out to our team if you have any questions, we're here to help.





Work With Us

You can count on us to help you sell and help you buy, and be there for you every step of the way before and well after your deal is done. So, why us? Because working with us, you are more than a client in a transaction; you become a friend for life.