Pasadena December 2015 Real Estate Values: Pasadena home sellers enjoyed a strong market in December. The absorption rate showed just 1.4 months of inventory, the lowest level all year. This signals a highly favorable market for sellers, with strong demand and limited supply. Fewer listings typically hit the market in December, creating tighter inventory and more competition among buyers.
What’s in store for real estate in 2016? “This year the housing market may only squeak out 1% to 3% growth in sales because of slower economic expansion and rising mortgage rates,” Furthermore, the continued rise in home prices will occur because we will again encounter housing shortages in many markets because of the cumulative effect of homebuilders underproducing for multiple years. Once the spring buying season begins, we’ll start to feel that again.” Read the rest here:
Pasadena December 2015 Real Estate Values Recap:
Can market conditions change quickly?
Yes—markets can quickly shift due to interest rate changes, job growth, seasonal trends, or shifts in consumer confidence. What was a seller’s market last year could easily become more balanced, or even buyer-friendly, within months. Staying informed about local trends helps you better anticipate these changes and adjust your strategy accordingly.
Thinking of selling this year, click here to learn why your home’s online presence is critical.
