La Crescenta January 2016 Real Estate Sales: It appears buyer demand will be strong throughout the year; the problem is that inventory (supply) isn’t keeping up:
Calculated Risk: “Low inventory is probably holding down sales in many areas.”
Frank Nothaft, Chief Economist for CoreLogic: “Many markets have experienced a low inventory of homes for sale along with strong buyer demand… These conditions are likely to persist as we enter 2016.”
La Crescenta January 2016 Real Estate Sales Recap:
La Crescenta real estate values didn’t move much from December to January.
The low absorption rate indicates that if no new listings were added, inventory would be depleted in over a month. What should buyers do in a seller’s market?
Buyers facing heavy competition should come prepared with a mortgage pre-approval letter, move quickly when a good listing appears, and make strong offers. Waiving contingencies or offering flexible closing terms can also help strengthen your offer. Especially in fast-moving markets, setting a firm budget and walkaway point beforehand helps to ensure you don’t overextend yourself when the process gets competitive. When selecting a buyer’s agent to help you, work with a top La Crescenta real estate agent. Your agent should keep up with current market trends and statistics.
