Will the Latest Housing Trend Create a New Buyer’s Market?
As home sales begin to level off to a four month low, buyers are once again in a position to negotiate.
It’s typical this time of year. Home sales usually begin to level off, even in a hot market such as what we’ve witnessed so far in 2013. Statistics recently released show a 4 month low in housing sales for the month of October. Again, considering the exponential gains we’ve seen in housing sales this year, this news hardly comes as bad news.
Summer months are typically hot months (no pun intended!) for the real estate market. Many buyers are looking to move in between school session, making it easier for their children to transition to a new school environment. In other cases, buyers make purchases upon receiving tax return funds. Whatever the reason, escrows closed in 2013 rose significantly between June and September.
Buyers frustrated over “Seller’s Market.”
Of course, this year saw the rise of a new Seller’s Market here in the Santa Clarita Valley. Low residential inventory for sale, coupled with low interest rates for buyers, made for hot demand for homes in the SCV. Many sellers received several simultaneous bids on their properties from eager home buyers, and were in the driver’s seat as far as negotiation and demands were concerned. This of course, frustrated many home buyers who were unable to win out on continually rising bid prices.
Market shift brings about change for buyers.
Buyers eager to find a home before the end of the year should consider taking another dip into the “real estate pool” and make plans to shop for homes once again. With inventory on the rise, they may find themselves in a position not only to have a better choice of homes to select from, but they also may enjoy some flexibility when it comes to negotiating terms of the sale.
It’s not too late to get into a home for the New Year!
The Elgin and Pilar Walker Team are your real estate advocates. Our marketing and networking skills can provide you with a list of desirable homes to choose from BEFORE they hit the Multiple Listing Service. We work with homeowners and real estate agents who have homes ready to go on the market that may be just what you’re looking for. It costs you nothing to contact us for a consultation to find out what we can do for you.
Keller Williams VIP Properties
25124 Springfield Court Suite 100
Valencia CA 91355
Office: (661) 290-3781
Mobile: (661) 347-6248