It’s amazing to look back over the last several months and see what has happened to the market. For the most part, we all knew the market would come back but many of us didn’t expect it to happen so quickly and with such force.
While home owners have enjoying higher and higher values, many California home buyers have been left on the sidelines and feeling more than a little frustrated.
Why? The craziness of the market has left a number of buyers wondering why they have to bid on so many homes and with so many other competing offers than they would have in years past. Some have even called it quits and gotten off the treadmill. It was just too much.
But alas….there is hope!
A recent study by Redfin indicated that our crazy market is a bit more sane. How did they come to this conclusion? They measured key housing markets across the country and came up with some interesting data.
The bottom line of the report shows that while many markets in California are hot, they are cooling slowly. Specifically, the study measures what percentage of home go into contract within 2 weeks of being put on the market.
In San Diego and Sacramento, we still are seeing almost half of offered homes sold in this time frame but the number is shrinking. In other words, homes are staying on the market for slightly longer.
This is GREAT news if you’re buying or thinking of buying. If you are, be sure to call us. We’ll help you understand what you can afford and can even put you in touch with a fantastically friendly and able agent.
