Though A Few More Southland For-Sale Signs Are Sprouting, Buyers Are Coming Up Short
The number of homes for sale has been persistently low for almost five years, a cycle that bottomed out in the spring of 2004. Since the beginning of this summer, inventory levels in many neighborhoods have crept up a bit, and there is anectodal evidence that some pockets have more on the market now that September is here, but the increases are not much by historical stantards.
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The lack of homes for sale is a statewide phenomenon and another surprising characteristic of a real estate market that has for several years defied many experts predictions of a significant slowdown.
The number of homes for sale has been persistently low for almost five years, a cycle that bottomed out in the spring of 2004. Since the beginning of this summer, inventory levels in many neighborhoods have crept up a bit, and there is anectodal evidence that some pockets have more on the market now that September is here, but the increases are not much by historical stantards.
Everone has heard the predictions of a bubble, but I am still seeing a lot of buyers in all price ranges
. People are staying put and renovating instead of trading up, long term interest rates have been lodged near historical lows; many homeowners have borrowed against their equity and spent the funds.
The lack of homes for sale is a statewide phenomenon and another surprising characteristic of a real estate market that has for several years defied many experts predictions of a significant slowdown.
Alberto Pacheco
Realtor Calbre Lic 01200694
818 481 9211
Keller Williams Porter Ranch
Real Estate Consultant
http://www.granadahills.kwrealty.com Real Estate News, Mortgages, Trends
