I say no. Well, I say not here in Santa Clarita Valley. Why, you ask? Or, I guess that would be why not?
Because our inventory is climbing. We are just under 800 active homes in our MLS as of right now for our little Awesometown neighborhoods. As that continues to climb, sellers have to be more careful of their list pricing.
Showing property to a new couple today. Only 2 homes, but looking at the comps, they are both over-priced! Really, one by only about 10-20k, the other....sheesh, almost 35k.
Early in the year, and last year, they may have been able to get that with the shortage of inventory. But, not so much now. Well, not out here. Can't guarantee how Real Estate is in all of California. I can tell you in San Fernando Valley it's cooled a bit too, but some properties are still very Hot! One couple we wrote an offer on a little house in North Los Angeles area and it has 15 offers. But, that's cooling, trust me....beginning of the year, it would have had 30!
This is my take on Real Estate right now. I've read articles that say we are still below normal pricing. I laugh at that. Nothing stays normal in Real Estate. But, my associates and I are saying we are returning to a Normal market!
Feel free, keep poking at that bubble, I just don't see it bursting again for quite some time!
Lauren Lefkowitz Greber ~ Keep Your 'Witz' About You When Buying Or Selling Your Home