Market Update 9.9.2020
The first week of September traditionally has been filled with new backpacks, pencils and back to school pictures but this year feels a little different of course so why shouldn't the market still be feeling a little different? The inventory fell another 2% in the last two weeks and demand is up 17%. So in a time when the housing market generally gets ready for back to school and slows down, buyers and sellers are still busy with that Spring selling season that got a late start.
See the latest Orange County Housing Report in this link. I encourage you to read it as you will see a new area of the market, the luxury market, has seen a sudden surge like never before. Buyers are still trying to get those offers in to take advantage of the low rates and more sellers than usual are out there, although still not enough to meet the demand.
If you or anyone you know are interested in buying or selling, let us know. Maybe your home needs an extra room to host virtual learning! An abundance of caution is still taken for buyers and sellers and if you would like the most up to date info please check out the California Association of Realtor's microsite provided on best practices. We follow these procedures and will assure that your showing is a careful one.
With all that is going on, we are very thankful for the opportunity to assist you with your real estate needs and hope that you and your family stay safe and well. We look forward to hearing from you again soon.