Let me be honest, when it comes to selling homes, it’s not always smooth sailing. It can be a stressful time, filled with uncertainty.
Preparing a home for sale is no small feat. and it’s often overwhelming to clear spaces that have been lived in for years. Most homeowners typically have too much furniture, too many picture frames, and a half dozen family souvenirs crammed in every room. Don’t even get us started on the stained carpet, chipped wall paint, and scratched floors that come with everyday wear and tear.
The Santa Clara market tightened up for the last month of the year, as home inventory dropped, which is typical for the holiday season. There were very little new listings and many homes that had been sitting on the market were finally sold and will be closing in January. Moving forward to expect home inventory to expand. Generally buying activity is pretty hot in the beginning months of the year, as inventory is ramping up.
The current conditions in the Santa Clara housing market: Mortgage rates are still hovering around their 7-year highs and expected to climb more in 2019. Values of homes in Santa Clara have been dropping since June, and are expected to drop more in 2019. The stock market has experienced lots of volatility in the last few weeks and is at a 14 month low. Seasonal inventory for the holiday has dropped, but are at the highest levels in the last 6 years.