Expect less activity with fewer homes coming on the market and fewer buyers looking to find a home.
During the Autumn Market demand decreases slightly. With kids back in school, it is not the most advantageous time of the year to move a family. Moving during the school year is extremely disruptive, so families opt to place their home search on hold and wait it out until the following spring. As a result, there are fewer new escrows.
Many buyers mistaken the end of the year as THE best time to purchase. They know that it is no longer the hottest time of the year for real estate, so they believe they can get a “deal” during the slower months. That is not the case. Instead, the market will remain the same until ringing in 2022. With both the inventory and demand dropping at similar rates, the overall feel of the market, will not change. This results is a Market Time that remains almost unchanged.
Now that the Autumn Market is here, there will be fewer homes coming on the market, demand will decrease, and housing will not change much. The calm of autumn means less activity and a cyclical change to housing
Click on the image below the Read the Orange County Housing Report.