What You Need to Know Before You Hit Pause on Your Home Search

Let's talk about something that's been on a lot of people's minds lately. What's going on with the economy? and how will it affect the housing market? Especially here on the central Coast. Between news about inflation, interest rates, federal policies, tariffs? I completely understand why buyers and sellers might feel a little uneasy. But here's the truth. Real estate is hyperlocal, and what's happening nationally doesn't always play out the same way in our backyard.

Let me share what we're seeing right now at the national level. Inventory is increasing. Yes. And so are home prices, Redfin just reported a 5% increase in homes for sale, yet prices are still rising, up nearly 6% year over year. This does not indicate a looming housing crash. That's a healthy demand. Secondly, buyers are active. Mortgage applications are up showing more people are jumping back into the market.

Even with current interest rates, people are buying. And foreclosures remain incredibly low, just 2 to 3% of the market. That's another big sign We're not looking at a repeat of 2008. And when we zoom in on our local market here on the Central Coast, we're still seeing strong buyer demand, low supply and steady price growth. All signs of a resilient market.

Bottom line, is the national economy facing some bumps? Yes, but is it leading to a housing crisis on the Central Coast? No. Don't let analysis paralysis or economic uncertainty hold you back from making a decision that could set you up for long term success. Lean in on trusted professionals. Let us help you sort through the noise and make a clear, logical decision based on facts.

If you've been on the fence or you just want to talk through your options, I'm here. I'm Amber Johnson with Pillar Real Estate here to guide you home, even when the headlines are noisy.