Closing Out The Year:
Yes, it has been another wild ride. While we were still dealing with the Pandemic (mask wearing, hand sanitizing, vaccines and the like) we were pretty much able to move freely about.
The latest numbers from Corelogic Home Price Index suggests that there was an increase in home prices of 18%. This was based on sales from October 2020 to October 2021.
As you know, I monitor the housing inventory on a regular basis. The inventory number is the tell-tale sign of what kind of market we are in … and where we are going. In the spring of 2021 we only had a bout a 300 home inventory at any one time. Homes were flying off the shelf. One of the homes we sold had 23 offers on it. How’s that for a ‘Sellers’ Market!!!
Since late summer and into fall, the inventory has risen. The housing inventory is currently about 615 (according to The Greater Antelope Valley Association of Realtors 12-10-2021). This is about double the amount we had in the spring of 2021, but we’re still a sellers’ market. We just had an offer accepted for one of our buyers, and we were competing with multiple offers.
I don’t see the inventory increasing any time soon, so it looks like there will be more room to run for home prices in 2022.
Since the inventory won’t slow the housing market right now, the only thing that might possibly slow it down would be the raising of the interest rates. The rates are projected to go up, but I don’t think they’re going to go through the roof any time soon because we’re still recovering from the last 2 years dealing with the Pandemic and getting everyone back to work.
If you have any questions feel free to call, text or email me, I’m always here for you.
If you know of someone thinking about buying or selling, please let me know, I do appreciate your referrals, and we’ll take EXCELLENT CARE of them.
ALSO, we were just approved to run our very own Real Estate School!!! Wahoo!!! If you have any questions or interest, feel free to call the office at (661) 400-0705 and feel free to check out our school at AVRESchool.com. Our concern is your success.
Our motto “Pass the test, and we’ll teach you the rest”
