Market Update: How Low Inventory Will Affect Your Home

Filed under: Temecula Real Estate

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Recently, I did a Facebook live interview with Bill Provost, a local mortgage lender here in Temecula. During our conversation, we discussed a hot topic in the real estate industry: low inventory and how it affects people who are trying to buy or sell a home.

Trends in the Temecula Real Estate MarketReal Estate Market Inventory

Before the interview, I did some research to understand how the numbers compared to home sales in this market a year ago. In the past 30 days, about 260 homes have been put on the market. I assumed that this number was lower compared to a year ago. But, when I looked at the same 30-day time frame in 2016 I found that the numbers were about the same.

If the new listings are comparable to last year, why does it feel like we have low inventory in the industry? The reason is that of the lower-than-average months leading up to our current situation. Looking at the numbers, we can see that this inventory problem started about a year ago, and we are now starting to feel the impact of the change in the industry.

Should You Sell Your Property?

Are you considering the option to sell your home? If you want to move this year, you should take action right away. While the inventory is low, you will be able to increase your equity by maximizing your sale price of your property.

Keep in mind that the market will usually correct itself given enough time. So, if the market is flooded with new listings, it might bring the prices back down again. If you want to choose the right timing for your property, feel free to contact me to discuss. I can help you with a strategic plan to quickly sell your home and increase the asking price as well.

When you are ready to take advantage of the current “buyer’s market,” I invite you to call, text, or email me for more information. I am an experienced real estate agent in Temecula, and I am here to help: (951) 473-0390 or [email protected]