IS IT A BUYER’S MARKET?

Buyer’s market helps buyers!

With the abundance of homes available and new home developments offering so many concessions, buyers have their choice of homes. Not like last year when a buyer had to make a split decision or lose the house. Also with the abundance of homes, buyers aren’t over paying and losing equity right off. At the same time since sellers have equity in their homes; it’s still a good time to sell.

I hear the market has gone down is that true?

The market has changed. Over the past 5 years, we have been in a white-hot, highly appreciating, rising market. Interest rates were at 40+ year lows. Currently, we are transitioning into what is called a “normal” market. There is a large supply of available homes for sale, and a substantial pool of ready willing and able buyers looking to purchase. The actual number of sales has slowed from the record highs of the past few years, but sales continue to be made. Prices are not skyrocketing monthly as they did over the past 5 years. Some sellers continue to list their homes based upon last year’s appreciation, and buyers are rejecting their inflated asking prices, which causes the impression that prices are falling. They are not; prices are adjusting to meet buyer demand which is a healthy, normal market.

 

Carol Perdew
(209) 239-7979

www.CentralValleyHomes.com