Real Estate Inventory: What is Really Happening in the Market?


Filed under: Market Comentary


The talk in the real estate industry is that there is a shortage of inventory, making it hard for home buyers to find a property for their family. In our weekly Facebook live broadcast, we talked to Cale Thomas, a local real estate agent about this topic. He shared some interesting information about the current trends in the Temecula market:Real Estate Inventory

Temecula Real Estate Trends

How much of an inventory problem are we experiencing?

Currently, there are just over 260 listings that have come on the market in the past 30 days. The assumption was more homes were listed a year ago, compared to this year. But, Cale found that the same 30-day timeframe last year had a similar number of new listings.

Even though the numbers are comparable this month, we still need to consider the preceding months where we had lower-than-average inventory. So, there is still an inventory problem, although we are starting to swing in the opposite direction.

The truth is that this inventory problem started about a year ago, and we are just starting to feel the effects of it over the past few months.

When Should You Sell Your Home?

If you are thinking about selling your property, then you might consider listing your home as soon as possible. Since the inventory is low, it creates a great environment where you can maximize your property value and roll that equity into a new home.

Of course, the industry could quickly balance out if many homeowners list all at once. So, the best thing that you can do is work with an experienced real estate agent and lender to determine the optimal time to sell your home. Consulting with the experts ensures that you will be realistic with your pricing and what the market will bear.

Be careful to ensure that you are working with a real estate team that has a solid knowledge of the industry. For example, certain agents will mislead their clients by offering a listing that is higher than the value of the home. This strategy is used just to secure the listing; then the agent will convince the homeowner to lower the listing price. It is better to choose an agent who will provide strategic services in the beginning, helping you to sell your home in an efficient way.

Do you have questions about financing when you are buying or selling a home? We are here to help! Call us to learn more about the financing services that are available for you.


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