I know I said my next blog would be about financing options in today's housing market, but with all the new sales data I had to put it out there first. In my last post I talked about a spike in "pendings" and a trend change. I didn't know how right I was until the next months data came out. Take a look below at the Sacramento pending home sales for March. Again, decreasing Inventory and Increasing pendings. Sales will lag behind pending sales especially now with the lending restrictions, but the next couple months of actual sales should jump as well.
Even more data can be found from the wall street Journal supporting my claim that the trend has changed. Look at the graph below with data about new home starts. For the full article click here.
No matter how many times its said, people just don't seem to get it. History has proven that Real estate is cyclical, and we are at or near the bottom of this cycle. Again the opportunities are there for buyers. Starts are down, sales and pendings are way up, that means less inventory and a TREND CHANGE. It won't be over night, but we will continue to see things improve. Inventory should continue to drop and that will stabilize this market. Prices should start to level out and then we will see a pricing TREND CHANGE.
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