It's that time of year! Mixing the rising inventory coming into the spring season with interest rates dropping over last few months, has set the stage for an excellent buyer market.This is
Don't Miss This Window of Opportunity!
It's that time of year! Mixing the rising inventory coming into the spring season with interest rates dropping over last few months, has set the stage for an excellent buyer market.
This is exciting for sellers as well!
Why is this good for both?
Well, for sellers with, interest rates under 5% and inventory picking up it is adding some momentum to the market place. We are in major need of homes to sell because the buyer demand still outweighs available inventory by a long shot. This is a snapshot of nationwide inventory in the second half of last year.
Some of the markets we serve like Redding, Chico as well as Santa Rosa are suffering from extremely low inventory due to damage by the fires. Other markets in Northern Ca have slowed down in Q4 of last year. With momentum picking up going into spring this is great for Northern California markets.
We are still technically in a seller's market here in Northern California and nationally but are hoping to see a more balanced market within the next 6 months.
My team has had so many buyers that are ready to buy but with inventory so limited it has been a struggle to find the right home.
But, some buyers lost excitement due to the combiniation of difficulty of finding the right home and with interest rates peaking. Now that interest rates have dropped back down a bit and inventory is starting to come on market we expect to see the excitement restored and a very healthy home buyer and selling season.
If you want a free market evaluation on your home or would like to discuss your plans to buy or sell please reach out to us today? We are happy to help!