Prices are still showing a strong increase in September (Forgive me for posting them late. October data will be available to me in about 6 to 10 days). We are witnessing the beginning of the correction of the market. Days on market is increasing and so is the inventory. And let's don't forget the interest rates which have gone up a good 0.5 percent this year. (That is not all that significant). Still makes more sense to buy than to rent. We have seen slowing down of the market in the Bay Area as well as in Southern California. If I could predict the future, I will be in Vegas but my guess is that comes spring, we will be witnessing a decrease in prices. If buyers aren't buying, sellers have to reduce the price to entice them. It's the law of Supply and Demand. It's that simple.
During the holidays, there aren't as many buyers but also keep in mind that lots of sellers will take their homes off the market to enjoy it with their families. If you need to sell your house, holidays might not be a bad time. Give me a call. Let's come up with a strategy to sell it and get you to where you want to be.
If you live in a area that that I don't include in my monthly reports, just let me know. I'll get it to you.
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