“So Cal RE Market Report / Buyer, Seller & Investor Tips” by: Saeed Ghaffari
March 17, 2021
By Angie Week
So Cal Market Beat
MLS Data provided courtesy of Real Estate Legends, USA
Table below shows the impact of the market trends and factors on our economy, ECON 101.
Buyer, Seller & Investor Tips
- Active Inventory listings changed direction and went up by .92%, the week before, it was reported at .18% drop. The more properties on the market, the more advantage towards buyers.
- The closings also dropped by 2.82%, a continuation of last week’s drop of .49%. One key factor is the hike in interest rates. Rates have been moving upward and it definitely keeps a few buyers off the market.
- The new listings were down by 3.58% this week, not so good, but also the older listing inventory continued to go down too, which is good news. The older listings downward trend started 4 weeks ago and it dropped 3.78% again as of this Monday, March 15th. One contributing factor could be the sellers adjusting their asking price downward a bit.
- Active listings were up by .16% last week, the Activity Index was down by .81% and so did the aging index. Meaning less properties hit the market and the older listings were moved.
- Coming Soon inventory tapered off to .74% increase from the week before of 19. 36%.
Buyers, Sellers & Investors: Seek the advice of an experienced local realtor for data specific to your market. Work with realtors with skills and character you can trust, find them on our Expert Panel under real estate on our home page.
Active Inventory listings changed direction and went up by .92%, the week before, it was reported at .18% drop. The more properties on the market, the more advantage towards buyers.
The new listings were down by 3.58% this week, not so good, but also the older listing inventory continued to go down too, which is good news. The older listings downward trend started 4 weeks ago and it dropped 3.78% again as of this Monday, March 15th. One contributing factor could be the sellers adjusting their asking price downward a bit.
Active listings were up by .16% last week, the Activity Index was down by .81% and so did the aging index. Meaning less properties hit the market and the older listings were moved.
Coming Soon inventory tapered off to .74% increase from the week before of 19. 36%.
The closings also dropped by 2.82%, a continuation of last week’s drop of .49%. One key factor is the hike in interest rates. Rates have been moving upward and it definitely keeps a few buyer off the market.
For data specific to your local market, we have expert real estate professionals listed on M&M Expert Panel under the real estate column. Additional real estate services maybe found in M&M Business Directory. For free real estate and mortgage consulting, write to [email protected].
I’m always here to chat Real Estate, reach out anytime by signing up or logging in on moreandmorenetwork.com.
M&M NEWS
Related Articles
The Real Estate Market is Cyclical, Don’t Panic, Adjust!
The Real Estate Market is Cyclical, Don’t Panic, Adjust! The Real Estate market is cyclical. The data shows, and it’s clear that we are experiencing one of the toughest real estate markets in the past decade. As bad as it is, there are certain agents who do well,...
Why the housing market is going from tough to terrible
Why the housing market is going from tough to terrible Do you like this Article ? Sign up HERE for your FREE M&M Account to receive more Real Estate related information and news and THIS article. M&M Membership includes: FREE Coaching Events & Workshops,...
As mortgage rates hit 8%, home ‘affordability is incredibly difficult,’ economist says
As mortgage rates hit 8%, home ‘affordability is incredibly difficult,’ economist says Do you like this Article ? Sign up HERE for your FREE M&M Account to receive more Real Estate related information and news and THIS article. M&M Membership includes: FREE...