Real Estate Market Trends, and Another Change-Up?

I was once taught that no matter the market, the question will come– “Hey, Kylee, how’s the Real Estate market?”. And my answer? “It’s crazy!”.

Well, it is! Have you seen it? Prices are up. Few homes are under $150,000. Inventory seems low, but I suspect is more like “medium”. One house sells in 3 days, another one sits for 103 days without an offer.

And now, add to the mix, sky rocketing rent prices!! How does a renter save for a home downpayment, when they are paying $1000 a month for an apartment. Oh,no…it’s true….call a few apartment places or look online. You’d think you were living in New York or San Francisco, not sleepy ol’ Sacramento.

And so, with all these ingredients, I do believe the trending real estate market is about to trend again. Where is it going, slithering slowly like The Amoeba That Ate Sacramento? Not sure, but I hope we see some hope for those who want to buy–perhaps a lean towards a buyer’s market? We need more inventory for that to happen. Either way, I do believe we will see some adjustment over the next six months.

For more on rental increases, here’s a CNBC story.

 

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