After almost two years, the market is starting to CRACK. We are seeing a rise in inventory, a drop in demand, and an increase in market time. Why?? – higher rates.
Keep this in perspective though. Remember that we are coming off an extreme Supply & Demand market. The dial is moving in the right direction but drastic changes will not happen overnight.
The current active inventory has increased by 60% since mid-January.
Other than the COVID-19 lockdowns of 2020, demand is at its lowest level for this time of year since 2009 and is already trending lower.
Knowledge is power. Apply the strategy for the win.
If you’re looking for more information about the real estate performance in many of Southern California’s most in-demand markets, click here to view the Pacific Sotheby’s International Realty IN FOCUS market reports.