Not in every market across the United States, but in the Southern California locale, we are seeing the switch from the market being a real estate sellers market to a real estate buyers market.
However, this switch has been in process since October of 2013 and is taking it's sweet time.
There are a few factors that are going to need to occur before the switch over to a real estate buyers market is complete. First, the inventory is going to have to increase at least another 35% from where we are today.
Second, we are going to need to see the Days on Market timeframes continue to increase in the local markets. Finally, a trend to watch will be the rate in which properties are BOM'ing - entering the real estate market in Back on Market Status.
Tune in for our Daily Santa Clarita and Greater Los Angeles radio show at our Main Real estate website.
You will see our latest installment front and center at our REMAX of Valencia CA real estate site.
BTW, who are we? We are a local REMAX Team known as Paris911 - That Paris is for a person, not that person, but my Paris :) - I was a LAPD cop for a long time, having resigned - not because I was headed to prison or being charged with a crime, but because I needed to assist Paris with her full time Real Estate Business in more than a "part time" fashion.
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