If you are looking to purchase a home in Roseville, or just tend to follow market trends, you are probably interested in where things are currently at with real estate inventory.
That is why we have decided to provide some key stats as to where inventory stands right now and where it may be headed should you decide that 2019 is the year that you make the move to purchase real estate.
Below is an outline of data from a recent report that detailed how inventory is increasing, but could change in the near future.
- Inventory is still increasing, and has been for the previous 10 months.
- The growth at which inventory is increasing, however, is slowing and could result in a future decrease.
- In June, compared to June last year, inventory was up by 2.8 percent, but fell when compared to May (2.9 percent).
- Homes for sale are still seeing price reductions. In fact, one in every five homes for sale saw a reduction in price last month.
- Homes are staying on the market for up to 56 days, which is two more days than the same time last year.
If inventory continues to grow, it could result in some of the highest number of homes available we have seen in a while. It wasn’t that long ago that inventory was hitting historic lows and bidding wars were pushing buyers out. That is why the coming months might be an ideal time to buy.
If you are interested in purchasing real estate in the Roseville area and have questions about anything from down payments, credit scores, loan program options, market trends, or anything else, make sure to reach out to one of our mortgage consultants. At Element Mortgage, we believe in educating home buyers about their options so they can make informed decisions about their financial future.