Episode Details

#CWH

Connor with honor Realtor CWh: (00:00)
Everybody Conor MC Iver. I did wanna reach out to you and give you a quick real estate update here for Monday, August 8th, 2022. This is the beginning of the week, and I'm very excited to present a lot of information regarding the market, but let's talk about inventory track back to March April, we had two hundred and twenty two hundred thirty total active units on the market for sale. And that was really pretty much indicative of the real estate market here in Santa Clarita through Valencia Stevenson ranch. So as new hall canyon country Castaic, those particular six cities here in Santa Clarita valley, very low inventory. Fast forward to now we have about three times that amount, about 530 active units on the market for sale. We also have the coming soon variety. Nine of those are coming soon. What that is is that's something that the board implemented years ago. Well, not years ago.

Connor with honor Realtor CWh: (00:51)
Yeah, I guess two, three years ago to try to compete with the Zillow and the difference indication, websites like that. And what I mean to try to compete is they had a program or a platform on there that allowed agents to upload coming soon listings. So now the board was able to kind of restrict that and put regulations on it because a lot of, well, it happened that maybe some of the listings that were put out there were not actually coming soon, who would've thought so that happened. So they're trying to BA basically equal the playing field and on the real estate syndication websites in like the Zillows and the truly is not that they were at fault, but there was really no enforcement mechanism there. So when people were putting these listings on the market, the consumer was well, you know, having issue. So what we did is what the board did actually is they implemented coming soon listings.

Connor with honor Realtor CWh: (01:39)
So these are all verified listings that are put on the market that's for sale. And there's a 21 day window that they can be advertised and marketed prior to the first showing or becoming active. Then after that, the agent, if the people maybe have, uh, an outbreak of COVID in the house or some other issue, they're able to actually slow that roll and hold those listings back for another additional few days with of course, justification, justification, having to be having is gonna have to be made that with that inventory though, it's giving the buyers out there a lot more choices. And with buyers have choices. The market seems to slow down a little bit. Also you have interest rates that have kind of adjusted in the buyer's favor, so that five a little bit over, but I believe that's gonna probably increase throughout maybe the rest of the year.

Connor with honor Realtor CWh: (02:24)
At some point, we'll have to keep watching those numbers. 
 

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