Hi, welcome to this week’s JHT Weekly Market Update!

With the extension of the stay-at-home order, we are beginning to see buyers’ interest increase as there seems to be more foresight into this pandemic. 

While most buyers believe that home prices will drop dramatically, according to the recent NAR Flash Survey 74% of sellers are not reducing prices to attract buyers, and are holding strong on the list price. 

The inventory shortage we are continuing to see since prior to the pandemic could mean listing your home right could work to your advantage, since choices are limited and current buyers are very motivated.

Embracing the selling process virtually could also help home sellers hit the top of the list of eager buyers with high impact pictures and virtual tours. 

The current market overview In our local area of Fullerton, Cypress & La Mirada over the past 7 days shows there are 32 new listings on the market, 16 new contracts and 31 closing over the past week. 

Stay tuned for our weekly video coming your way every Monday Morning!

Sources:
https://www.keepingcurrentmatters.com/2020/04/27/what-impact-might-covid-19-have-on-home-values/
https://www.keepingcurrentmatters.com/2020/04/28/rise-to-the-top-of-the-pool-by-selling-your-house-today/
https://www.nar.realtor/sites/default/files/documents/2020-04-20-nar-flash-survey-04-23-2020.pdf