What’s happening in the Roseville real estate market? Here’s a quick market update to fill you in.
Is this a buyer’s or seller’s market? We are in a seller’s market. There are a lot more buyers out there than there are sellers, so there aren’t many homes on the market.
What does the current housing inventory look like? Right now, we have about half the inventory that we normally would this time of year. A lot of people are being cautious with the economy. Also, since the sellers don’t have much inventory to pick their new homes from, they are hanging onto their current properties longer.
- How does the inventory level affect home values? Despite the low inventory, buyers are being a little finicky, so home values won’t go much higher. Buyers know that their dollars will go a long way. “Interest rates are still below 4%!”
What do the interest rates look like? Interest rates are still below 4% if you have good credit and a healthy debt-to-income-ratio.
- What does all this mean for you? Overall, it’s a great time to buy or sell. Most of the better homes are coming on the market now. There aren’t many foreclosures or short sales anymore - all of those are out of the market.
If you have any questions about today’s video, give me a call or send me an email. I would be happy to help you.