Tuesday, June 18, 2013

Price Reductions and Inventory Increasing

Not sure if it's a fluke or not, but for almost a week now when I check the 24 hour snapshot of our MLS and look at price changes, the majority of them are reduced rather than increased.

We were seeing so many increases in pricing over the last year with short-sales under priced and more recently with the multiple offers being received, that I think we all got used to the price changes being blue up arrows instead of what we are now seeing, red down arrows.

But, in the last couple of weeks Santa Clarita has gone from under 300 in active listings to almost 400 in active listings.

We all know what it is....sellers excited about the prospect of getting more for their home due to lack of inventory. And, neighbors follow neighbors, friends follow friends, everyone trying to keep up with the Jones'....well sorta.

I either blogged or YouTubed it recently, the dramatic increase just can't keep up. So here we are.....we shall see if we hit the stall I expected (go ahead and ask my bowling friends who are now clients) come this summer and hopefully flatten a bit and get to some normal appreciation.

What say you??

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