As Spring arrives, the housing market is looking considerably more buyer-friendly compared to a year ago. The inventory shortage of homes we have witnessed has decreased, and higher inventories are driving price cuts.
According to Realtor.com, inventories have increased by an average of 6% year over year. Markets with some of most impressive numbers include:
The median list price rose 7% year over year in February, but prices are showing signs of cooling. Thirty-nine of fifty largest housing markets saw an increase in price cuts in February. In California, San Jose with 9% and San Francisco with 5% led the way in price reductions.
All in all, this information bodes well for buyers looking to invest in real estate in 2019. It appears that the real estate market has begun to turn the corner from a sellers’ market to a buyers’ market.
If you would like to participate in this wealth generating opportunity, but cannot qualify for a conventional loan, give us a call at 707-523-2099. We are here to help with poor credit, fast loans, big loans, and everything in between.
Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099 www.sunpacificmortgage.com.
CA DRE license #010005559 and NMLS #289456
Note: Get our financing despite bad credit, difficult to prove income, property a fixer, etc.! We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases, commercial and land.