central coast home buyers beware: The real estate market is changing and not necessarily for the good as far as buyers are concerned.
Buyers who are actively seeking to purchase homes on the Central Coast probably already know what our latest statistical analysis tells us. The market has changed and not to the benefit of home buyers. In fact, the only good news for buyers was yet another dip in home loan interest rates.
Comparing November, 2011 to last month gives home buyers and the brokers looking out for their best interests little to cheer about. Traditional sellers, on the other hand, have some reason for optimism. But since SLO HomeStore represents Central Coast home buyers exclusively we look at the market from that specific perspective.
We’re spending a few days looking at specific statistics and discussing what each means to Central Coast home buyers. For a free copy of the entire report just ask, either on Facebook or on SLO HomeStore.
Nov-11 vs. Nov-12: The number of expired properties is down 13%
Yep, homes are selling. This is actually a more significant statistic than might first be perceived. Last year REO listings were much more dominant in the market and those rarely, if ever expire. Those corporate sellers do whatever is necessary to get homes off their books. Now we have more traditional sellers who might not have to sell if they don’t get a satisfactory price and still there were fewer homes expiring unsold.