Well, Buyers are believing that buying is worth it right now, because they expect to see long term growth, even if they are in a multiple offer market – like ours. And that optimism is important because the more they are excited to get out there and find the home of their dreams, the more likely sellers are going to come and answer the call – and possibly upgrade to their new home as well.
What I also find interesting is 2009 – or 5 years ago – when asked if there’d be growth by 2014 most buyers didn’t think so. Because remember – then was the height of bubble popping. And yes, things were more grim back then. But in 5 years what happened? Markets came back and many have matched or surpassed bubble prices. So looks like that 1/3 of buyers were spot on.
So what do you think? Are we at the top of the market now? Or do you think there’s still more room for growth?
If you’d like more information on the San Fernando Valley or Los Angeles, or to have help looking for your next home, please feel free to reach out! I’m happy to help, no obligation.