Foundationally Strong Local Real Estate Market
Roseville, Calif.- Many people are talking about the housing market and how it is about to crash or is in “free fall.” Based on what is said or written about the real estate market, it is understandable for people to have reservations. It is essential to look at the factors impacting the housing market and understand that the basics of the industry are still intact.
Our housing market is dealing with supply chain problems and less-than-great interest rates. According to the National Association of Realtors, homes are still selling and averaging 17-days on the market. In addition, buyers are taking a step back to understand the higher interest rates and the economy. We have moved from a very strong sellers’ market to a balanced market. Listings in good locations that show well and are priced right are still selling.
Changing Market
There is no doubt that the housing market in Sacramento is changing. Buyers are being faced with higher housing costs, and many of them are now waiting to buy. Sellers have become reluctant to list their homes. We have fewer buyers and sellers, but they are closer to equal than at any time in the past year.
The real estate market is experiencing disruptions, but its foundation remains strong. We advise our clients based on their specific situations and assure them that the market isn’t as bad as the headlines indicate.
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