Will It Change To A Buyers Market?

Honestly depends on who you talk to and what day it is. Just leave it to Corona Virus to keep us guessing. Surely you've seen that Social Media post (and also a video too) about the rules of what to do and not to do, but sometimes to do them? It's kinda funny, and so true.

But, with housing, the experts are all saying different things. My opinion? I had a 40 minute conversation with one of my buyers yesterday about this. My opinion is that home prices will go down. BUT, if interest rates go up, what difference does it make....and, I've said this for....ev.....er......Real Estate is a roof over your head that over the long term you gain equity.  So, if you're planning on staying in a home for many years, go ahead and buy now. At least you know exactly how much you're paying, what the interest rates are. Could you lose 10% in value in the next few months? Yep, sure can. But, will that 10% in value also be what you're been paying to your landlord for THEIR mortgage....yepperoonies!

Personal choices. You've got to decide. I'm seeing an increase of inventory, I'm seeing cancelled escrows, I'm seeing price reductions. BUT, I'm also seeing solid buyers out there buying. You know why? Because now is the right time for them. Sellers selling now? Ya wanna know why? See the answer for buyers....same answer.

For now, here's a look at the Santa Clarita Valley home sales activity:

Number of homes currently available for sale: we have 411.

Last month, same time...it was 327,

In escrow right now? 320. Last month same time....440.

And, sold in a 30 day period? Last 30 days we closed 279. The month before was 286.

I'm pretty sure you can all do the math on this one. But, just so it's clear....inventory is climbing, properties going into escrow is declining.

There ya go. Feel free to reach out to me for any Questions, Thoughts, Concerns.

Lauren@KeepYourWitz.com ~ (661) 313-5470