Pending home sales declined as a whole in December, but for the second straight month the Western region experieinced an increase, according to the National Association of Realtors. According to Lawrence Yun, NAR economist, there is “growth in certain pockets.” One of the four regions he cited for this growth in active listings is the San Francisco-Oakland-Hayward area. Yun said he is confident the housing market will see an improvement in 2019.
“The longer-term growth potential is high,” he noted adding that the Federal Reserve’s recent change in its stance “has already spurred a noticeable fall in the 30-year, fixed-rate for mortgages. As a result, the forecast for home transactions has greatly improved.”