In my last post I gave you the numbers for 7 Southern California – Inland Empire cities. I could feel that the housing inventory was shrinking by the lack of homes I’ve been able to find for buyers but little did I realize by how much. Figuring out the numbers and seeing that inventory is down 64% – well that is amazing – kind of like being in the eye of a hurricane! The real estate company I work for has its corporate offices in Orange County. The real estate offices there have been talking for months about the shrinking inventory and I guess that trend has come to the Inland Empire.
So are we in a Seller’s market yet? Maybe. With the supply of homes for sale at a low point and interest rates at a historical low point – maybe. If, as a seller, you have been waiting for this trend to list your house for sale, then please do, I think you will be very pleased. Just remember price at market value.