The local and national market is picking up. Activity is increasing around Sacramento. I've been warning of this for some time. If looking to buy, but waiting for "the crash", the numbers and data just do not support anything like it at this time. Reasons being: Supply is decreasing further, sellers simply aren't providing new listings and those that have been sitting or are priced correctly have been bought up. Buyer demand is heating up, mortgage applications are showing life. Price reductions are decreasing, yes, decreasing. In fact, on a national level there has been 2.4% price increases and that number is rising. What does this mean? As of now, the numbers are showing that we are sustaining these current housing prices. Affordability is still an issue, which is still keeping a portion of buyers on the sideline. However, if we see that mortgage rate break of 6%, watch out. FOMC is going on today, and the Fed's decision on the next interest rate hike will be delivered later today. We'll see if that shakes things up or not. With that being said, I will be doing my part to provide supply to our market. We'll have a listing going live on 2/9/23, and hopefully I'll have good news from another listing appointment later this week. Have a great first week of February! What are you seeing or hearing? I'd love to know paul@guiderealestate.com |
