“As the first quarter of 2017 comes to a close, California continues to show an abundance of active buyers throughout its markets while dealing with consistently low inventory. Reasonably priced homes spend minimal days on the market, often having received multiple offers, while overpriced homes are taking longer to sell.”
“California continues to deal with limited listing inventory, which is resulting in an increase in buyer interest, attendance to open houses and multiple buyer offers.”
If you left the market last fall because you thought home prices would keep falling, or because the holidays distracted you–or because you just got discouraged–I understand.
“As the housing market approaches the end of the first quarter, there have been some encouraging signs for home sellers and homeowners who may be weighing whether to sell. The year kicked off on a fairly strong note for the housing market both on a national and statewide level.”
“There is no doubt that prices in California continue to be among the highest in the nation, buoyed by steady demand and a healthy economy. A recent report delivered a dose of good news, however, showing that rising wages and seasonal price declines have helped to stabilize California’s housing affordability.”
The San Francisco and San Jose Statistical Metropolitan Areas ranked first and second in housing market hotness this January, according to realtor.com. And there’s a sleeper in the top 20 hot list too.
“Saving for a down payment can often be challenging for first-time homebuyers, particularly in high-cost areas like Northern California, and it is likely an issue that most consumers carefully weigh before the housing hunt begins.”