Real Estate
The market in California’s Central Valley has recently taken a shift from a buyers market into a sellers market. Interest rates have recently taken a little dip. An election is coming up. More smaller homes are on the market now bringing home values into question for some. With all the uncertainty, is our market about to take a crash?
Is A Real Estate Market Crash In Our Future?
We will not make any predictions, but experts are saying that no, we are not about to see a crash. When making these predictions, they compared a couple of different statistics with the 2008 market.
Housing Inventory
The first thing that experts are looking at is supply and demand. When there are more homes for sale than there are buyers looking to purchase, you are in a buyers market. Sellers are competing for limited buyers. You are in a sellers market when the opposite happens and there are more buyers than sellers. Buyers than are the ones competing
Leading up to the 2008 crash, there was a major buyers market happening. There were so many homes for sale, with no homes going up for sale, the inventory could last 13 months! Recently our market came in at just over 4 months. Overall, this shows we are in a much more balanced market than what we saw leading to the 2008 crash.
Unemployment Rates
Unemployment rates is another statistic that experts are viewing. Our communities are no doubt struggling in a number of ways, especially financially. The anxiousness that many of us are feeling can lead to a feeling of impending doom, such as another crash.
Leading up to the market crash in 2008, unemployment rates were at 8.3%. Today, we are looking at an unemployment rate of 4.1%. While this is still a number that should be improved upon, we are far below what we were seeing as we approached the 2008 crash.
Ready To Join The Market?
With peace of mind seeing that the market is said to be a good place according to experts, are you ready to join in? Sell your home fast so you can get in on the action!
Eric with ASDM Homes offers an easy route to selling your house fast in San Joaquin and Stanislaus county. Cash offers can help you sell your house quickly, for a fair price, without the need for repairs, inspections, or having a line of strangers walk through. Selling a house on the market can be a long, costly and difficult process. Selling your house does not have to be.
If a cash offer is what’s right for you, Eric with ASDM Homes is here to help! We can give you a fair cash offer, help with all the legalities, and streamline the process to help get your home sold fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!