What to Expect for The SoCal Real Estate Market in September 2018
As we’ve been telling you over recent weeks in social media posts, videos and blogs, the Real Estate market in Southern California has corrected and as of September 2018 we now are in a “balanced market”.
What does this mean?
As of the first week of September, we have an inventory of just over 7,000 active homes in Orange County. Compare this to the first week of January when we had an inventory of under 3,400 homes.
Are We in A Buyers’ Market Yet?
Most economic analysts and Real Estate agents will tell you that when there is an inventory of 8,000 active homes this is generally a sign that we’ve shifted to a full swing buyers’ market. This hasn’t happened yet, but we could be heading in that direction.
August 2018 was a month where there were mixed results for the Real Estate market in Southern California. The first two weeks of August were quiet (most likely due to more people being on vacation), while activity picked up in the second two weeks of the month partially due to decreasing interest rates.
Is It Still A Good Time to Sell Your Home?
You may be reading this blog post wondering if now is still a good time to sell your home and the answer is yes.
If you price your home right and take the time to declutter and stage the home so it shows properly then you can expect it to sell, especially if you hire an experienced Real Estate agent like the Fred Sed Group to sell your home for you.
Great Time to Buy A Home
Now is also a great time to buy a home in Southern California because mortgage interest rates are still low and it’s an excellent decision to get pre-approved for a mortgage now before the Federal Government raises interest rates like they plan to do at least two more times this year.