I’m a sensitive soul. I note the subtle changes in the weather signaling the arrival of fall, and in Southern California, the land of eternal sunshine, those understated changes can be missed by many. I notice daylight is shrinking and the night hours are stretching. I’ve also picked up some changes in the roaring bull housing market we’ve experienced during the past 12 months or so.
The frenetic housing market seems to be entering a quieter phase. The number of offers received on a hot property is falling. The phone is a bit quieter. Gosh, I’ve even checked it once or twice to see if I turned it off, and I haven’t done that for a long time. Maybe it’s the end of summer, but I think the glut of pent-up demand has passed, and other would-be buyers have stepped away from the market for a much needed breather. Ask any real estate agent, being involved in multiple offer situations time after time expends a lot of energy and often brings yet another round of disappointment.
In my opinion, these changes bode well for both sellers and buyers. As we move into the fall season the cooler temperatures of both the weather and the housing market may encourage battle-shy buyers to reconsider, and reassure sellers they have not missed the resurgence of the local housing market. And that’s a very good thing.