Spring 2025 Market Check In

00:00:00:10 - 00:00:21:55
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Spring is here. And with it comes the busiest season for real estate. If you’re thinking about buying or selling. Here's a quick but important breakdown of what's happening at the national level in today's real estate market. Let's start with buyers. Mortgage rates are still fluctuating, but waiting for the perfect rate could mean missing out on the right home. You can always refinance later if and when rates drop.

00:00:22:10 - 00:00:44:52
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What matters the most is locking in the right property for you while it's available. For sellers, buyers are active, but they're being more careful about affordability. That means pricing your home correctly is more important than ever. If you want serious offers, the right price is the first step. Now, inventory. We are seeing more homes hit the market this spring, but certainly not even close to enough to fulfill the demand.

00:00:45:05 - 00:01:10:57
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In most areas, including here in San Luis Obispo County. We're still in a seller's market. Buyers have more options, but competition remains strong, especially for well-maintained and move-in ready homes. What about home prices? Well, they're not skyrocketing, but they're not falling either. Most experts predict a steady appreciation of about 3 to 5% this year. Well priced homes are still selling quickly, but homes that are overpriced?

00:01:11:09 - 00:01:30:32
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Yes, you guessed it, they're sitting longer and they're requiring price cuts to get the deal done. If you're a buyer banking on lower home prices or interest rates that we saw during the COVID market. You could be waiting for a very long time. Purchasing now could mean building equity sooner and having more negotiating power than you might expect.

00:01:30:57 - 00:01:53:58
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As for the economy, strong job growth and rising wages are helping buyers stay in the game. That said, inflation and affordability are still real concerns and higher cost areas like right here in California and New York, Growth has slowed, but more affordable regions, especially in the South, are seeing increased activity. If you'd like a more specific look at what's happening right here in San Luis Obispo County or even in your city.

00:01:54:01 - 00:02:05:03
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Reach out any time. I'd be happy to send you the latest data or help you build a personalized plan for your next move. Let's make this season work in your favor.