How much are chocolate Easter bunnies and marshmallow Peeps right now? 

 

A week after Easter and the few stragglers on the shelves will have red labels and “CLEARANCE” stickers in the candy aisle.

Easter was over a week ago and the seasonal products are now out of date. If you are a chocolate Easter bunny, there are only a few weeks during the year that you are the “it” product. 

 

With a limited supply of homes on the market, homes right now are the opposite of Easter candy. Homes are not on clearance. In fact, many home buyers are paying a premium because there aren’t enough houses on the market to keep up with home buyer demand. 

 

CAR reported, “With a strong growth in employment in March and a surge in consumer confidence to the highest level in the past year, the economy is slowly recovering and life is hopefully getting back to somewhat “normal” in the second half of the year.“* 

 

As the economy strengthens and COVID guidelines loosen, we can expect that more sellers and buyers come into the market. Potential buyers who were quarantined due to COVID and homeowners who were avoiding listing because of the inconvenience and risk of people coming through their homes will begin to surface as 2021 home buyers and sellers.  As vaccines roll out, more people will feel comfortable buying or selling a house. Even with the strict COVID-19 industry guidelines in place that required hand sanitizing, property cleaning, masked showings, and no open houses, some home owners still did not feel comfortable selling. 

 

What lies ahead this spring for real estate in Southern California?

Here are a few of our predictions for the next couple months:

1. Home buyers will continue to enter the market attracted to low interest rates 

2. Homeowners who are moving out-of-state or who are taking advantage of the newly passed Prop 19 will put their homes on the market

3. Turnkey listings will continue to be popular because of the higher costs of remodels and convenience of a move-in ready property

As home buyers and sellers who were sidelined in 2020 are entering the real estate arena this year, our systems are in place. We know how to successfully bring a property to market and showcase its best features with professional video, photos, and comprehensive marketing. We know how to write competitive offers and find the “hidden gems” for our buyers.

What do you think? Is it intimidating to buy a house right now because of the fierce competition? Do you wish that you could take advantage of your equity, sell and make money, but you aren’t sure about where you would go next? Contact us today!

 

 
Source: *https://www.car.org/marketdata/marketminute

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.