We have been on the rise in housing prices. We have seen a 20% increase in the last year alone.
However, most, in the current real estate market, are in a quandary as to why the inventory is building and why housing prices are continuing to rise.
We have also seen an increase in the Days on Market. With the Supply Building and taking longer to sell homes… Even typing it does not make any sense.
Here is how it’s supposed to work, More Supply should equate to longer days on market and reduced real estate prices.
However, we have a dynamic at play that is keeping the real estate housing prices steady – that is a lot of real estate buyers wanting to buy real estate.
The tide is turning, slowly, but it’s turning. We are watching as the market starts to shift from a Sellers driven real estate market to a buyers real estate market.
As the Days on Market continue to increase, as does inventory, we will start seeing the housing prices start to level off more than they are currently, then start to reduce – not much, if at all.
It is at that time when inventory will be higher than it has in a long time within the Santa Clarita Valley Cities and when buyers will be able to call their shot more effectively than in a long time.
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