Is this the Right Time to Buy?
This couldn’t be a better time to be buying. Interest rates are very attractive by year ago standards. Inventories are growing, prices are softening, and nervous sellers are more cooperative when they are in the midst of serious buyers. As they say, “buyers are in the cat bird seat”.
During our Sunday open houses we see lots of buyers that appear to be serious and noticeably sense and smell this is the time. It definately is as the chart below suggests. The ”Market Action Index” graph below for Redwood City was designed to measure if the market is a “seller’s” market or a “buyer’s” market. When the graph line drops below 30 Altos Research labels the market a “buyer’s” market. Contrast the Redwood City graph below to the Market Action Index for Las Vegas:
Is this the right time to buy? Let’s consider the facts: interest rates are low, inventories are up, prices are softening, sellers are willing to deal…well…Absolutely it is the right time to buy in Redwood City and adjoining communities…that’s why there are so many buyers out looking. It’s also the right time to buy in Las Vegas with more than 15,000 homes for sale at last count! Add another 4,000+ for next door neighbor Henderson.
Joe Parsons
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