Market time gives us a good idea of how long it should take to sell a home. It also tells us if the housing market is hot or cold, or somewhere in between. As we can see from the data, market time commonly follows seasonal trends in addition to being influenced by larger economic forces. Although the market appears to be slowing on the graph, that’s typical of the winter season in California residential real estate. The latest data here is from January. Housing data is often a look back a month or two, because it takes time to compile and process. I my experience, as an active real estate broker, I can tell you the housing market is already waking up and becoming more competitive as we approach spring time.
Market time will typically drop starting in the spring, through the summer as more and more buyers and sellers enter the market. Market times will climb again as we approach autumn, and people start to turn their attention to family and the approaching holidays. Once the new year has passed, many people begin or resume their relocation planning.
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