As many of you know, next month is National Homeownership Month. Traditionally, it’s an exciting time for real estate, but there may be extra cause for celebration this year. There are lots of predictions saying June may mark the beginning of more listings following historic lows when it comes to inventory nationwide.
In March, Redfin predicted more listings this summer. HousingWire said recovery seemed to be starting in April, and the National Mortgage News pointed to June as a desired time to list during that same month.
Your team of experts at Placer Title Company knows this has been a busy time for us all, but we wanted to amplify the good news. We know our real estate partners are doing a great job delivering for their customers, no matter what. We couldn’t be happier to be part of so many transactions already this year.
There’s no way to know for sure how many more houses will be for sale this summer, especially in our local markets because they are so popular. But as Lawrence Yun from the National Association of Realtors put it when talking about an almost-20 percent spike in new construction from February to March, more has to be a good thing right now.
“In nearly every market, 20% more inventory means 20% more home sales,” he said last month. “(The) news on the new home construction surge is, therefore, highly welcomed, especially in light of major challenges on material costs and soaring lumber prices.”
We’ll go ahead and apply that logic to existing home listings, as well. Any increase in inventory will be very good for the large pool of prospective buyers, even if it means a busier time for all of us. No matter what or where you are in California, remember the Placer Title team has your back because we are the title and escrow experts our customers need and the partners you can trust.