Prices are still rising making affordability more difficult for many Californians. Interest rates are still at historic lows.
As of June 2018 the market could still be described as a Seller’s market. But rising inventory may lead to prices slowing as well as increasing days on market, trending towards a Buyer’s market. My sources tell me that markets nearby–the Bay Area, Sacramento, and Lake Tahoe all show signs of a slow down. It may be the best time to sell for years to come…
Here is a synopsis from “Trendgraphix” for the Placer County Foothills communities of Applegate, Auburn, Christian Valley, Colfax, Dutch Flat, Foresthill, Granite Bay, Lincoln, Loomis, Meadow Vista, Newcastle, Penryn, Rocklin, Roseville, and Weimar. Contact me if you would like a free market analysis of your home.
June 2018 is a Seller’s market*
Home For Sale in June 2018: 1076 units.
|•||Up 10.4% compared to last month|
|•||Up 9.5% compared to last year|
Home Closed in June 2018: 632 units.
|•||Down 0.6% compared to last month|
|•||Down 8.9% compared to last year|
Home Placed under Contract in June 2018: 651 units.
|•||Up 0.2% compared to last month|
|•||Up 5.2% compared to last year|
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
Follow the link below for details.
With weakening housing affordability, home prices will begin to ease bringing buyer relief.
It’s a seller’s market in Placer County. If you are a buyer, you need to be prepared. You will still have the advantage of comparably low interest rates, but they are on the rise. If you are a seller, it may be the best time to sell. It’s also a good time to “move up” as the market is slower in the higher-priced luxury homes. Check out the stats below from Trendvision.
The Bay Area’s housing market has been extremely hot for some time now, but it has taken other parts of the country a while longer to get back on track from the recession. Now it seems that the rest of the nation has finally joined in the “house party.” The National Association of Realtors® reported this