Market Update 11.2.2021

Does it seem like there will ever be an end to the housing insanity that we have been experiencing?  Perhaps you would like to buy a new home but you are frustrated by the competition.  Perhaps you would like to sell but you are unsure of where you will go once you sell.  While it is difficult to determine when we will reach the light at the end of the tunnel, there are two indicators that I am watching to determine if we are getting close.

  

INDICATOR #1 A shift in interest rates will most likely be the first indicator of the change.  We currently have interest rates hovering around 3.14%.  A shift up near 3.5% may start to lower demand for some buyers. 

 

INDICATOR #2 The average days on market will also indicate market strength. Currently a home priced right stays on the market 23 days and so we are experiencing an extremely hot sellers' market. Below are the dates to keep in mind as the market shifts:

*Hot Seller's Market 60 days or less on market

*Slight Seller's Market 60-90 days on market

*Balanced Market 90-120 days on market 

*Slight Buyer's Market 120-150 days on market

*Hot Buyer's Market 150+ days on market

To find out more about our current housing condition in Orange County be sure to check out the link for the report from Steven Thomas.

 

We are here to help you navigate the real estate tunnel to locate homes that will meet your desired criteria or prepare your home for sale and ultimately negotiate for you the best sale or purchase. In a market with such tight inventory you want experienced agents that will guide you through this process.  We will have your best interests in mind every step of the way.

 

Best,

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PS...We are very thankful for the opportunity to assist you or your referrals with your real estate needs.  Feel free to forward this to someone interested in the market or reply and let us know how we can assist. 

Christine DiCarlo

Real Estate Broker License #01290192

949.433.4372 Mobile


christine@remeorealty.com