Real Estate Market Matters

Top of Mind

Homebuying Demand Slightly Increases : Still grappling with reduced affordability as rates remain above 7%, the market saw a slight increase in September
Housing Inventory & Sales Pick Up: The California Association of Realtors 2024 forecast shows that sales will pick up as more inventory becomes available on the market. We’ve been seeing that buyers and sellers are negotiating more to make the transaction work as competitive measures used may have eased a bit.
Market softens slightly ahead of Winter: The latest data does not project home sales to drop as it did last Winter 2022, however we see a slight decrease in homes selling above their asking price. The market is definitely exhibiting low inventory, but as homebuying season may slow down, homes are taking slightly longer to go pending and buyers/sellers are willing to negotiate more.