- Whether the housing market is considered a Buyer’s or a Seller’s market is directly related to the available Inventory levels in a given area. The statistics in the above chart are national statistics.
- A Seller’s Market is when the inventory is low and buyer demand is high.
- A Buyer’s Market is when inventory is high and buyer demand is low.
- Local demand is high and inventory low in the starter & trade-up home markets, causing sales prices to rise.
- Demand seems to be rising in the upper end/luxury market here in the Redding California area. In the first quarter we saw sales of 5 homes over $750,000 and in quarter two we already have 8 homes pending in that price range.
Statistics taken from the Shasta Association of REALTORS, deemed reliable but not verified.