Today we’ll be going over the latest updates in our Sacramento market. People are often wondering what’s going on in our market and whether they should wait to buy or sell. To find that answer, there are a few things we need to look at.
The real estate market moves in cycles of seven to 10 years, and we’re definitely in the last part of one right now. There are also three things that can cause a market shift, which are interest rates, unemployment rates, and affordability.
We’re seeing an increase in inventory; more and more homes are appearing on the market right now. There’s also a decline in the number of sales, but keep in mind that things often slow down around this time of year. And, as mentioned before, we’re at the end of the market cycle.
Buyers and sellers both have some great opportunities in our current market.
For buyers, interest rates are still at a historic low. You can lock in a good 30-year rate and have plenty of inventory to choose from.
It’s a good time to sell as well, as the market is reaching its peak and home values will soon begin to flatten and possibly decline. Historically, spring is when everyone wants to sell their homes; there’s more inventory and more buyers in the market. However, you may miss out on the sale prices we’re seeing now if you wait.
Buyers and sellers both have some great opportunities in our current market, and we’d like to help you with your real estate needs. Reach out to us to get the ball rolling with free evaluations, information on home listings, and more. We look forward to hearing from you.