In the big picture of Santa Clarita real estate, 400 active real estate listings are not much. In fact, that is up about 50 from a couple of weeks ago, speaking about the beginning of March 2018.
Currently, we are seeing that real estate is starting to move a little quicker. At least concerning homes coming onto the Santa Clarita real estate market for sale.
We have been watching as the inventory increases. This event is typical for this time of year. This is the Spring/Summer move and relocation trend.
Homeowners are looking to upsize, downsize or leave CA. Home buyers are searching online for real estate in the Santa Clarita Cities.
The Santa Clarita home sellers:
The issue they are confronting quickly is, “Will there be a home for me to buy when mine gets into escrow?”
Another item that most Santa Clarita home sellers are concerned with is finding a home buyer who is willing to wait for them(the seller) to find their home of choice. How long will the buyer be willing to wait?
There are other options which we explore for our Santa Clarita home sellers.
The Santa Clarita home buyers:
The current Santa Clarita home buyers are concerned they aren’t going to find “the one”. Also, most of the Santa Clarita home buyers are becoming creative in the “helping sellers” arena with rental agreements to give the home sellers more time.
Santa Clarita homebuyers attend our Crash Course on real estate where we give all of the applicable intel about buying real estate locally.
Santa Clarita real estate future
We will continue to build inventory through the summer. I’d opine that real estate will continue to sell at a fast pace and some buyers, those in the $500k price range are going to be fighting an uphill battle. With the “right” Realtor, those home buyers will not be fighting alone.
Interest rates will be increased tomorrow by the FED. They are going to be closer to 5%. There are not enough homes on the market for sale to allow for the interest rate hike have an impact on home prices.
Here is something else. The impact of a .5% increase in interest rates will impact a home buyer who is approved for a $500,000 home loan about $50,000. Therefore, that’d be that 500k home buyer will now only qualify for $450k.
I’m Connor MacIvor and I’d love to be your Realtor. Your local goto for Santa Clarita real estate.