Are you feeling the market heat up? Today I have a quick graph to help show the reality of Spring fever in Sacramento. The blue bars in the image below represent sales in March, and as you can see sales volume ALWAYS increases after February. What does this mean? Many of today’s 2200+ pending listings in MLS will become sales stats for March to help show that Spring fever has arrived. Any thoughts?
Questions: How has the market felt to you? What are you noticing out there in the trenches? Comments are welcome below.
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Heather Ostrom says
The surge of calls from sellers, definitely heated up these past few weeks. Most calls continue to be selling, to buy again.
Ryan Lundquist says
Thanks Heather. I always appreciate hearing how things are going. I’m glad to hear the phone has been ringing.
Jay Emerson says
The lack of water and Obamacare have made a real and negative impact. Several buyers can no longer move because their jobs are gone or going. Granite Bay’s water situation has halted all GB activity for several clients.
At what point do we notice the under-water yield curve created by government regulation and “employment”? The sugar-high created inflated prices which are now deflating. The government can’t spur growth except with policies that let markets work on their own. And they can’t create rain. But they can regulate water usage after neglecting water management for decades.
Ryan Lundquist says
Thanks Jay. I appreciate your take. We are definitely having a very serious drought. Buyers are going to have to consider the cost of water as well as the cost to water a lawn. I think you’re right that the market has been on a sugar high. I’ve been using the metaphor that real estate has been on steroids, which is basically saying the same thing (except steroids make your head grow bigger and sugar doesn’t). 🙂 There is definitely room for upward movement in coming months in terms of values seeing a seasonal increase, but there seems to be more and more bad news for the economy, which is going to play a huge factor over the course of the year. Now that we are tapering off of being on steroids so to speak (in 2013), it will be interesting to see how the market is able to respond over the course of the year. How strong is the housing and job market? We’ll find out as time unfolds.