Doug’s Crystal Ball
(AKA - Educated Guess):
I am asked almost daily by both buyers and sellers on where this market is headed. And while I don’t have a crystal ball, I can still provide my opinion/guess. I am starting to see some signs that the Sacramento Real Estate Market is slowly starting to shift away from this Insane Seller’s Market. At the beginning of June 2013, interest rates bumped up about a 1/2 point. That seems to have caught the attention of the buyers out there and removed the haze from their eyes. Slowly, I’m no longer starting to see properties getting a dozen offers over list price in 3 days on the market. Don’t get me wrong, the power is still tilted towards the sellers due to inventory being so low. BUT, I’m also seeing inventory trickling up and price resistance from buyers. SO, Here’s my personal opinion: If your considering selling your house in the next few months, I would suggest getting it on now before this shift picks up more steam. IF you’re a buyer out there and have been losing out on many offers, stay up beat. I personally think things are getting better for buyers right now as we finish up the summer and head into the fall market.
Only time will tell if I’m right but I’m seeing subtle signs of things becoming more balanced….