Is Housing Inventory Increasing?

We had a significant increase in housing inventory in the greater Fresno area. In March our inventory levels were hovering around 26% of normal. Since then, we have seen a steady uptick in inventory and we are currently sitting at around 65% of normal inventory levels.

This is great for buyers in many ways, it allows for them to be able to write more normalized offers, as opposed to shooting over the moon with appraisal gaps and tightening contingencies. The underlying factor that has most contributed to the increase in inventory levels have been the rates doubling since January. This tends to slow the market down to more manageable levels in terms of competition.

We still have a supply and demand imbalance, which will keep an increasing trajectory on home values for the foreseeable future, but not at the historic rate at which we've seen over the past 2 years.

If you're thinking about buying or selling a home in California send me an email or call (559) 905-0910.