Buyer Optimism About the Future of Home Prices is Growing!
As is indicated by the recent rebound and rise in home prices it should be no surprise that consumer home buyer optimism in the California and San Diego real estate marketing is growing steadily. And rightly so. Foreclosures are down, short sales are down, and inventory is down which are indicators that the market is finally correcting and stabilizing. In particular, younger buyers below the age of 32 are getting into the action and have confidence in their home purchase investment. According to a recent National Association of Realtors study of recent home buyers and sellers, 85 percent of buyers under age 32 view their purchase of a new home as a good investment. Perhaps this is because they have not sweated out the tough years of late with a mortgage under their belt but it is still a good sign and indicates overall optimism in real estate investing.
And although some buyers still are struggling to find financing, the market has been gaining optimism. Many still struggle to find a loan because of credit rating hits during the banking and economic crisis of recent years. Couple that with increased rigidity on financing requirements potential buyers find themselves in a situation where they are unable to qualify. The Fall and early-Winter months are an interesting season for buyers and sellers of real estate. With the holidays just around the corner many home buyers and sellers are quite happy waiting until we get closer to Spring. Although there are traditionally more buyers around in the Spring, there are also considerably more sellers. The number of new listings typically on the market in March, April and May can be as much as 65 percent higher than October, November and December.
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