Is It A Good Time To Buy Or Sell A Home?

Posted by Jeanine Schulz on Monday, May 11th, 2020 at 12:42pm.

While there are many factors that can go into answering this question for each individual, the quick answer to the question is YES!  

Deemed Essential Infrastructure by the Federal Government, Real Estate continues to be bought and sold, we're all just needing to play by some new rules to keep everyone's safety as the top priority. For those willing or needing to partake, there are advantages to being a Seller AND Buyer in today's market.

When viewing the tri-county area comprised of Sacramento, El Dorado and Placer Counties, many indicators show the market favoring both Buyers and Sellers alike.  One such indicator is how many months of inventory of homes for sale are available. When this number goes above 6 months it is considered to be a Buyer's market and when dropping below 3 months becomes a Seller's market. Inventory of homes for sale in April 2020, although up from March and up from the same period one year ago, remains low at 2.1 months vs. March's number of 1.4 months. Due to the Coronavirus, many Sellers were taking a wait-and-see approach before listing their home for sale and that appears to be easing. Anyone currently putting their home on the market also has a large Buyer pool they can market to, with a relatively low number of other homes for sale to compete against.

Of course many Seller's are most interested in knowing their home's current value to determine if they're ready to sell. Home prices are remaining steady and showing slight gains when compared to last month and the same month one year ago, respectively.   

The news for Buyer's is equally as promising. With mortgage rates continuing to be at record lows at the time of this article, Buyers have more purchasing power.  Essentially they are able to afford more home due to lower interest rates. Several mortgage specialists I follow are expecting rates to stay low while anticipating home values will increase over the next several years.

While many consumers are already well versed at performing home searches online, nothing replaces an in person viewing. While current Stay-At-Home Orders are reducing the amount of foot traffic going through homes, Realtors are filling the gap by offering their clients virtual tours to narrow down the number of properties they would like to visit in person thus saving Buyers time, and reducing the number of showings the Seller must prepare for in advance.  

If you think you're ready to enter into the real estate market as a Buyer and/or Seller, I am happy to help you navigate your way through an evolving landscape during these unprecedented times. And, depending which side of the fence you're on, I am well versed at giving you a competitive edge.

To learn more about May's featured property, click here or on the photo below:

 

If you're interested in learning more about the current real estate market, your home's value or searching homes for sale, I'm here to help.  Contact Jeanine Schulz at 916-367-1393 or jeanine.schulz@remax.net or visit jeanineschulz.com.

 

 

 

 

 

 

 

 


(C) Copyright 2018, Jeanine Schulz. All rights reserved.

Jeanine Schulz
Call/Text: 1-916-367-1353
Search For Homes Here
License #: 02060832

We appreciate and welcome your comments! Please Note: It is our policy to moderate all comments, and no spam will be published. Also, no links are allowed in the body of the comment. Other than that, I look forward to hearing from you.

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com