Welcome back. I’m Jeb Smith, Real Estate Broker with ReMax Terrasol here in Huntington Beach with your February 2017 Orange County Real Estate Market Report. This past Monday, the day after super bowl marks the start of our spring housing market. With the start of the Spring Housing Market, we should expect an increase in the number of homes coming on the market but with that we will likely also see an increase in Buyer Demand.
Today’s market update is going to be short and sweet but it’s also going to sound like a broken record if you have been listening to my monthly updates on a regular basis. The bottom line is that Sellers remain in control due to super low inventory. While we have seen an increase in available homes for sale over prior months, we have also experienced an increase in buyer demand which in turn leaves us exactly where we started in terms of supply and demand balance. Until we see more homes coming on the market than are going into escrow, our market will continue to see a shortage of homes and buyers will continue to have a hard time finding the perfect home and likely experiencing multiple offers when the right home does present itself.
Unfortunately this is completely normal in our market right now so if you are a Buyer that is having a hard time finding the perfect home, you are not alone. One reason our inventory continues to be an issue is because there are a lot of Sellers on the sidelines considering selling but not wanting to pull the trigger due to the fact that they are also looking at tight inventory and not seeing any homes that they would consider buying. This creates a catch 22 and one of the most common things we as Realtors are dealing with right now. If you are a Seller who is in this position, talk to an experienced Realtor like myself as there are ways for you to list your home for sale while still searching for that perfect home without jeopardizing being homeless in the process.
As you know, all Real Estate is local, so if you are a Buyer, Seller or Investor in Today’s market and you have questions, I would love the opportunity to help guide you in the right direction. If you would like more information about me, please go to my website www.jebsmith.net or check out my other videos on YouTube. As always, I appreciate you taking the time to watch and I look forward to seeing you again next month. Make it a great day.