June Update in the Real Estate Market
Filed under: Real Estate Market
As you can see in the video, I’m still shooting these updates by myself. Even though I don’t have a pro camera team, I want to share some communication with you to let you know that things are still moving in the real estate market.
Listings are King
To put is simply: listings are king right now. The shortage of home listings on the market means that inventory is the most notable story in the real estate industry these days.
The inventory is so low that homes that are hitting the market are commanding a premium price. There just aren’t that many homes right now to choose from. So, we are running into issues with buyers who need to move due to a job transfer or change in life circumstances – they have a tight timeline for the move, but only a few options available for sale.
Inventory is ultimately what is driving this market right now. It’s also important to note that the overall number of sales is down. There are fewer transactions happening, and those who are looking to buy don’t have many choices to pick from. Unfortunately, buyers are getting caught in situations such as bidding wars, appraisal problems, and so forth.
Keeping You Updated about the Real Estate Industry
Because of this shortage of inventory, my staff and I are having daily meetings about inventory – what’s going on in certain neighborhoods, how many homes are for sale, etc.
We are going to start sharing social media posts about this type of information, to help you stay updated with the day-to-day happenings in the real estate industry.
We are planning to share more information specifically related to inventory and the shortage of inventory. Our team is working hard to keep our thumb on the pulse of what is going on – we’re watching to see if the issue corrects itself, or where we need to go from here to support the needs of our customers.
If you ever want more information or you’d like to talk more in-depth about your circumstances, please feel free to reach out to me any time. Call, text, or email me at (951) 473-0390 or [email protected]. Stay safe out there!