In Spring, buyers here in Southern California normally pick up the pace, and it is no different this year. Activity is up while inventory remains relatively low. Buyers are still being cautious about over-paying, but they are also cautious of missing out on a good home and on low interest rates.
At the last quarter of 2012, inventory was at its lowest, and buyer activity began a frenzied pace, driving up home prices through just about all of 2013. I don’t foresee dramatic price increases, but I do see a slight seller’s market continue through most of this year.
Sellers need to make sure they do not overprice their homes, and buyers need to be aware that it is, after all, still a seller’s market, and choice homes will sell quickly. Not a bad arrangement for all parties.
