Housing inventory

"...The Expected Market Time has dropped like a rock. With the inventory dropping while demand expands, market times continue to fall. It was 84 days in January and has sunk to 37 days today, plunging below 40 days for the first time since May 2022. The housing market feels hot when the market time dips below 60 days. Buyers can no longer take their time. Housing lines up in the seller’s favor, and home values are sticky and no longer falling even with mortgage rates in the mid 6’s. When a home is accurately priced, and in good condition, it acquires instant attention and sells fast. When market times drop below 40 days, the housing market feels insane. This is when sellers get to call all of the shots, home values are rising again, multiple offers are the norm, sales prices often exceed their asking prices, and homes last only days on the market.
There is nothing available for buyers to purchase right now. Anything that does hit the market is inundated with showings and plenty of offers as long as the home is in reasonable shape and the seller is not stretching the asking price. There is nothing spectacular about the number of buyers looking to purchase today. Today’s insane pace is not a function of juiced demand. The issue is that there are only 2,053 homes available today in the middle of April when there are typically around 5,800 (the 3-year average between 2017 to 2019). The lack of FOR-SALE signs in every community is why today’s housing market is insane.
Housing insanity has returned to Orange County, and it will not change anytime soon."-ReportsOnHousing Contact me if you would like to see the full 8 page report.
See what your house is worth: kyong.remax.co...
See what your approximate net amount received when you sell your house at: usaorangecount...
Homes for sale in Aliso Viejo: usaorangecount...
Homes for sale in Laguna Niguel:
usaorangecount...
Homes for sale in Newport Coast:
usaorangecount...
Homes for sale in Corona Del Mar:
usaorangecount...
Irvine California: kyong.remax.com/
Selling a house in a hot, low-inventory market can be a great opportunity to get top dollar for your home. However, it's important to make sure you're doing everything you can to maximize your chances of success. Here are a few tips:
♥Get your home ready to sell. This means decluttering, staging, and making any necessary repairs. You want your home to look its best so that buyers can see themselves living there.
♥Price your home competitively. It's important to price your home correctly so that it attracts buyers. If you price it too high, you may scare buyers away. But if you price it too low, you'll leave money on the table.
♥Contact me. A good agent will know the market and be able to help you get the best possible price for your home.
♥Be patient. It may take some time to find the right buyer, especially in a hot market. But if you're patient and prepared, you'll be sure to sell your home for top dollar.
Here are some additional tips to help you buy your house in a hot, low-inventory market:
Get pre-approved for a mortgage. This will show sellers that you're serious about buying and that you're financially qualified.
Be prepared to act quickly. In a hot market, homes often sell quickly. So be prepared to make an offer as soon as you find a home you like.
Be willing to be flexible to make the sale happen.
By following these tips, you can increase your chances of buying your house in a hot, low-inventory market.
This HOT market is because of the very LOW inventory and not skyrocketing DEMAND.
Thank you for watching & reading! I hope you found this information helpful and hope to hear from you very soon.
Kinney Yong
+1.949.838.4858 | [e-mail]
RE/MAX Premier Realty
DRE# 00868481