Fresno Real Estate Market Update for Fall 2014

Fresno Real Estate Video Blog with Benjamin Martin

There are a variety of opportunities in the Fresno real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

We are in a very healthy real estate market right now in Fresno. Whether you are looking to buy or sell a home, this market is right for it. Now, there are many factors that go into that. For example, our current inventory of homes for sale in Fresno is right around 2000. At our current rate, we are selling between 450-500 homes a month. However, homes are coming onto the market at a much faster pace. Our current rate of homes coming on to the market is around 550 per month.

With our incoming inventory outpacing our sold homes each month, our days as a seller's market are numbered. Right now is a great time to sell because at 4.5 months of inventory, we are still below the threshold of 6 months that classify this as a seller's market.

For buyers, immediacy is also key. Interest rates continue to remain at historic lows, but are expected to rise in the next year. Securing a loan at these current low rates will save you thousands over the life of your loan. The more the rate goes up, the less you will be able to afford.

Waiting too long to buy or sell could hurt you. Supply is exceeding demand right now, and when it catches up, it's going to be much tougher to sell. Waiting to buy could also have dire consequences, in the form of higher interest rates.

If you have any questions about the Fresno market, or about real estate in general, please give us a call or send us an email. We'd love to discuss your options with you!