rnen
You are looking in my backyard. The challenge is there is lots of demand around here but very little coming on the market. The homeowners around here are a pretty stable lot. If you are looking high end there could be some relief as there has been quite a bit of overbuilding in the way of 4,000 sq ft McMansions. If you are looking for something modest I just have a hard time seeing things get markedly better. I know tons of buyers out there looking for entry level homes. An REO recently came on the market around $500K in Rancho Ponderosa and it was bombarded with buyers/interest. The house was a pit and needed major remodelling. There is a huge demand for homes like this piling up but very little coming on the market. I wish it was otherwise but I dont see that coming. While I think we will see more inventory hit the market, the competition for anything decent and well priced will be substantial.
Even if rates jumped 1% or more, I dont think that would make a difference in the market for homes under 700K.
