Where is 2013 going with regard to our buyers and sellers of homes in the Santa Clarita Valley? Doing any kind of speculation about future results can be tricky. In fact, in some cases it can make and break some people and their businesses.
Watching and listening to REMAX’s CEO Dave Liniger – I have a feeling that he is completely on target and we are anticipating our 2012 real estate market continuing throughout 2013.
If only we could get some more “on market” inventory to hit the market. With the Shadow Inventory becoming less and less likely, we are looking for the “investor flips” to populate the market with short sales and standard sales.
In all three circumstances – it will be a chance for buyers of real estate to get what they want in a home purchase. With inventory hitting less than 1 month as far as absorption rate goes, buyers feel defeated.
Refresher about Absorption Rate: That is the rate at which homes are selling. It’s factored in this way: Taking current inventory numbers today, at the rate at which homes are selling in the Santa Clarita Valley Cities – if no further inventory was added how long would it take to get to Zero units for sale. That “amount of time” is the absorption Rate. In the case of Santa Clarita cities real estate – we are around 1 month or less. Which, BTW – is exceedingly unhealthy for a real estate market, from a buyers perspective.
Here is Dave’s 2013 list of the predictions I spoke about on our Santa Clarita real estate show this AM.