BLOG: Cooler Weather and a Hot Market

I will admit, this is not my favorite time of the year.

Don’t get me wrong…I like the fall and especially here in SoCal where we frequently get an “Indian” summer with warm beautiful days and nights as the last bit of summer lingers. But the beginning of fall signals the end of summer and well, I just love summer more.

Alas, the seasons must change and so as the days grow shorter and the kids go back to school, many home buyers and sellers think this means the “end” of the selling season. 

But not so fast! 

Lucky for us, we don’t really have a traditional selling season in Southern California like they do in other parts of the county. Yes, football season is here and the weather is cooling down, but there’s really no indication that the market is going to cool off anytime soon.

Home sales in August were at a 27-month high according to the National Association of Realtors and inventory is at a five-year low. So while the focus of some home buyers may have changed, this is still a very good time to sell your home.

One reason is that interest rates are at record lows. Not in the last 50 years have interest rates been this low and buying a home is more affordable than in the past 10 years. Another reason is that this market may change after the election. We don’t know who will be the next president or how that may affect the real estate and financial markets.

Hopefully, next spring will be a great market but no one can predict and the winter months are always slow as people prepare for the holidays, travel, etc. making this fall a great time to have your house on the market. According to Realtor.org., inventory is down, interest rates are down, and so are the days on market meaning you can sell your home faster.  It really just boils down to supply and demand. And low supply and steady demand makes this a good time to sell.

Just like the elementary math the kids are learning now that they are back to school!