Is 2020 going to be Repeat of 04'-05'?
On December 1st, 2020 the SFR inventory level is at 4012 homes available. 2870 homes have sold in the last 30 days giving us a current supply of 1.39 months. The happy middle for supply is 6 months. At that supply level we see 0% appreciation. Remember 04'-05'? 52% appreciation, less than a 3 month supply, with only 2700 homes available. Remember 13'-14'? 32% appreciation, less than a 3 month supply and about 3900 homes on the market...We are headed for those high double digit appreciation rates...Entering the TOP of the MARKET. My clients always ask me if now is a good time to buy or sell. Well, I'm saying it...The time to sell is NOW. Do it before the market shifts. It WILL shift. The most certain thing about the market is that the cycle of appreciation and depreciation is consistent. Typically it's a 12 year cycle, and the time is coming for the shift.. You can either be prepared, or you can be another casualty. Every situation is different. Call me today if you want to talk about where you're at and what you need to do next.
Life Realty District