Can you feel the opportunity in the air? Home buyers rejoice! Money is still cheap with historically low interest rates, and price overall are stalling… with the median price of $600,000 for a single family Santa Clarita home down 3.4% in December 2018 compared to a year prior.
Should you wait to buy a Santa Clarita home?
Short answer: NO – well, unless you either don’t qualify for financing, don’t have enough for a down payment, or both.
If you do qualify, as mentioned interest rates are still very attractive. Sure, they’re higher than they were when they were in the 3% range – but we’re unlikely to ever see those rates again.
While the inventory of homes for sale is still really not enough to make it a buyers market yet, the inventory has climbed to a point to make competitive bidding (multiple offer situations) a less frequent occurrence, with the number of home sales also declining at the same time. According to the Southland Regional Association of Realtors – which keeps market statistics for all home sales serviced by Realtors, there was an increase of almost 64% in Santa Clarita Valley homes for sale inventory in December 2018 vs a year prior. More homes means more options for would be homebuyers. We are seeing buyers negotiate harder than they could in recent years due to less buyer competition for any given home that they may be interested in.
I fully expect the inventory of homes for sale to continue to slant to the buyers advantage as we are in the midst of the spring home buying season in Santa Clarita. That will be compounded further by the availability of the numerous new home communities also selling homes in the Santa Clarita Valley.
Take a look at this info graphic that displays some of the hot points above:
If you’re considering buying a Santa Clarita home in 2019, you’ll be in much better shape to negotiate yourself a property you love, at a price that’s right. Leverage these market conditions along with the right agent to identify the best properties for you, and you will find yourself reaping the most rewards that the local real estate market has to offer.
We’re showing our clients homes 7 days a week. Schedule a consultation today at 661-505-1051, so we can go over your needs, wants, and budget. The Mickalson Group is ready to help you. It would really mean a lot, and be an honor.
Start your Santa Clarita home search over at SCVHomeTracker.com. <—— always up to date with the newest SCV local listings!
