Ahh, the summer real estate market sizzles!

I know the calendar very routinely marches through the seasons, changing at what seems to be quite random dates.  It proudly proclaims June 21st as the first day of summer, which is just a week and a half ago.  But for all practical purposes June, July, and August are the summer months.  This means that today, July 1st, we are one-third of the way into summer.  Whew! 

For real estate, that means our selling-season graph is on it's downward slope.  That's impossible to see day by day.  Particularly in this crunched up market.  My Corona buyers are competing against 24-25 other buyers on each offer we write and present.  But I sent in an offer on a Yorba Linda home last week and it was just one of 10.  While that may still sound like a lot, it's actually encouraging for offer-weary buyers.  

Obviously the California real estate market is still going strong.  And as you can see,  Huntington Beach homes and Fountain Valley homes are not the only ones for which buyers are battling.  And it seems to be prevalent throughout the state.  Have you ever heard of a company called Veros Real Estate Solutions?  Yeah, me neither.   But I did follow a link to their site and found the following information:

"San Francisco and other California metros are poised for the country’s strongest levels of appreciation in the coming year, according to a forecast from Veros Real Estate Solutions. 

Veros also predicted that select markets in the Northeast will continue depreciation trends, though these trends look to be easing. 

The future home price index conducted by Veros continues to report significant strengthening and improvement throughout the nation, particularly in the west, including Texas. 

On average for the top 100 metro areas, Veros anticipates 3.1% appreciation over the next 12 months. This marks the fourth consecutive quarter where the index has shown forecast appreciation. 

Most areas of the country are now predicted to see appreciation with far fewer areas showing a decline. At the time the forecast was released, nearly 90% of U.S. markets are expected to see appreciation, while the remaining 10% are expected to experience a drop in home prices. 

Last quarter only saw 75% of markets appreciating, with 25% of markets depreciating."

 

So it's still a good time to sell, and a good time to buy.  Even though the rates have gone up, they are still very low.  If you are considering doing either selling or buying, please call me.