Coronavirus: East Bay realtors believe virus is lowering interest rates, heating up home sales
Bidding wars are back in many neighborhoods across the East Bay as buyers get in the game because of low-interest rates. Those low rates could be sustained into the summer because of coronavirus.
Abio Properties owner and agent Linnette Edwards said, “There’s a buyer frenzy. Buyers feel very energized right now with the low interest rates. Last year in quarter four we had few buyers. This year we have a lot of buyers. And they are motivated. ”
A frenzy of buyers, but little inventory on the market means bidding wars are back.