Summer officially begins on Thursday, June 21st, 2018 so since we are officially in the middle of the year it’s the perfect time to take a look back at the first half of 2018 to see how the SoCal Real Estate Market has fared so far.
Low Inventory to Start the Year
As we’ve stated in previous videos, when 2018 began we started with low inventory in Southern California. As a matter of fact, real estate inventory in Southern California was the lowest that we had seen in a long time.
Even though we started this year with low home inventory in SoCal, in the last 2 to 2 ½ months we’ve seen a steady increase of homes coming on the market in Southern California.
Opportunity for Buyers and Sellers
Buyers who are thinking about purchasing Real Estate in SoCal should be encouraged because of the increase in home inventory.
We’re also seeing many homes stay on the market longer including more price reductions as well.
Besides having an increase in home inventory in SoCal, buyers should also know that it’s still a perfect time to buy a home because mortgage interest rates are still historically low and the economy is strong.
Homeowners who are thinking about selling should know that they can still get top dollar for their homes in today’s marketplace but they need to price them appropriately. They should also take the time to clean, de-clutter, and stage their homes so that they look fantastic before listing them.
Contact the Fred Sed Group
At the Fred Sed Group, we take pride in helping buyers and sellers across Southern California and look forward to the opportunity of serving your real estate needs.
To learn more about how we can assist you to contact us at (800) 921-9231 or connect with us online.