From personal experience, there was a significant shift last year in the mentality of buyers & sellers last year. Optimism was up and people were excited to dive into the real estate market. I was a little surprised by how low the numbers were in 2012 though. Many people believed that 2011 was a bottom-out point for the bubble, and so the only place to go was up. It was interesting to me to see how many people had truly believed that was accurate, and how many were still on the fence seeing what would happen in 2012. But by 2013… the proof was in the pudding!
So far 2014 is shaping up to be similar to last year. Inventory and interest are still low, and prices are still rising. In one particular neighborhood that comes immediately to mind, homes have increased asking prices by $30-40,000 since April. The infographic is spot on! Sellers have a reason to feel good!
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.