Inventory is starting to rise. Its that time of year. The combination of rising inventory Coming into the spring season and interest rates having dropped a bit over last few months This is
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Dated: 02/11/2019
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Inventory is starting to rise. Its that time of year. The combination of rising inventory
Coming into the spring season and interest rates having dropped a bit over last few months
This is exciting for both buyers and sellers.
Why is this good for both?
Well for sellers with Interest rates under 5% and inventory picking up it is sparking some additional momentum in the market place. Now we are still 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 and Santa Rosa have been effected by the fires and that has caused inventory to be extremely low. Other markets in Northern Ca have slowed down in Q4 of last year. With momentum picking up going into spring this is great for all of the Northern California markets.
We are still technicly in a sellers market here in northern califonia and nationwide 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 at times to find the right home.
For buyers I know that some have lost excitement in the market due to the difficulty of finding the right home and also with interest rates peaking to the highest levels in recent history. Now that interest rates have dropped back down a bit and inventory starting to come on market as it does this time of year 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 to discuss your plans to buy or Sell please reach out to us today. We are happy to help.
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Data Updated: April 22, 2019 3:24 AM
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