It's Definitely Summer In Santa Clarita

It's not just the weather that tells me it's Summer either! 

A couple of hints....

Inventory of Active homes? 254. Wells Fargo stopping Personal lines of credit? Yes they have. Eight price reductions in the last 24 hours? Yup, we had that today. And, a social media post from an associate? 'Four motivated Sellers, does anyone have a buyer for one?'

Let's face it, our entire last 18 months have been insanely busy with Buyers & Sellers. This has been the wildest market I've seen in over 19 years in the Real Estate industry.

But, I'm seeing changes. I blogged (or maybe YouTube-d) about it recently. That the higher end was seeing less activity, more cancellations. 

Now, while the inventory is still ridiculously low, it was at 291 same time last year. And, interest rates are like nothing we've ever seen before ...well, til we had a pandemic, like nothing we've seen before either. We are definitely seeing a change.

Summer in SCV is hot, hot, hot. People are on vacations, kids are out of school. And, with the mad rush of the last 15 months, maybe a little break will be good.

Recently braniac economists stated that we'd see continued appreciation. Not like the last pandemic year, but they expect that we still will.

When I see an uptick in inventory, price reductions daily, agents talking about motivated Sellers, and a big bank stopping personal lines of credit? I'm thinking it's time for my Buyers to get ready for a market with less competition.

I just put a new listing on a week or so ago. A month ago we'd have had 30 showings, this time round we had about 18. Still a healthy number of offers, but not like a month ago.

So, just a little FYI for you. Feel free to reach out for any questions about anything Real Estate related!