Running the numbers this AM for our HousingRadio.com real estate radio show, I have calculated that the Santa Clarita Valley absorption rate is about 3.5 months to zero.
Meaning that if no other real estate listings were placed onto the housing market for sale in any of the Santa Clarita Valley cities, we would hit 0 homes for sale in 3.5 months.
FYI – a healthy market for real estate, one that is the best balanced is the market where we have 6 months of real estate inventory.
That market, the balanced one, has not been seen by your’s truly since the last cycle of the housing market and downturn – back late 2006 and early 2007.
Both Paris and I want our housing clients to be certain that we understand the local housing market. Making good decisions are very important when wanting to buy something that costs hundreds of thousands of dollars.
During today’s Santa Clarita real estate update we spoke about it being a seller’s real estate market in the Santa Clarita Valley.
That being said, I have seen that it’s very possible to still have the home seller’s repair and replace items that are brought forth by the home inspection report and requested by the home buyer.
That is because time has passed. The home seller’s don’t want to “go at it” again after spending more than 17 days in escrow.
They are concerned that the market will change or that they may run into issues with the next home buyer.
I do this weekly – and have it posted in several places. I’m Connor and I’m glad to be of great service in real estate.