Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level.
The Market Action Index is a good leading indicator for the durability of this trend.
For the past few weeks, we have also seen a shift in the real estate market, or at least the beginnings of a shift from a sellers to a buyers real estate market.
More inventory and investors pulling out of our local market are two of the main reasons why we are seeing this trend start to shift related to prices reducing and buyer confidence increasing.
Be safe – search well and let the Paris911 Team at REMAX of Valencia know when you are ready to MOVE.