The Market seems to be shifting, but for many buyers and sellers, there is still plenty of reason to be in the market.
Buyers have the benefit of more options to choose from given the significant number of new properties on the market. Longer days on market and increasing discounts mean that buyers can begin to negotiate again, or at least enjoy a less competition from other buyers.
For sellers, things are not as bad as they seem. Prices are slowing down, and homes are taking longer to sell. However, with the median number of days on market at just 23, sellers can still sell quickly—just slightly slower than they could have 6 months ago. If you have been thinking of selling, there is still plenty of reason to be in the market.
Here is the latest Market Update from the California Association of Realtors®