Some More Evidence of "Green Shoots" in the Housing Market

I have studied the San Luis Obispo real estate market for over 30 years both as an investor and as a real estate agent. I have seen a profound change in the market in the past 6 months. As my long time readers know, I have a web site- www.myslohomefinder.com and I have noticed a 50% increase in traffic to the web site, especially from buyers looking for homes in San Luis Obispo County. I have interviewed some of these buyers. I have placed them in different groups. The first and most prominent are the first time buyers who want to get their first home. The second are the investors that are looking for rental income because they are not making money on their CD's or bank accounts. Lastly we have the people from Nortern and Southern California, and the Central Valley that want to move here because of our beautiful beaches and coastline, and of course, or mild and sunny weather. Can you blame them!

I have been pointing out to you in the past every time I see the "green shoots" appearing in the local, state and national housing market. You may ask the question, "Why should I care about California and the U.S. housing market?" The reason you should care, especially about the California market, is that when these markets start to heat up so will our market. With such a big desire for people to move here, once they can sell their homes they will be able to come here to buy ours. And lets face it, there is very little being built here. So the inventory of homes can't meet the demand for this growth. This leaves available inventory to fill demand, and as you can see by the graph below the inventory of homes on the market in the San Luis Obispo real estate market is decreasing.

Decreasing San Luis Obispo real estate inventoy

Also just read the real estate headlines in the press. There is a lot more postive press. Just look at these recent headlines.

2/10/2012 Home builders and investors both see signs of a turn – USA Today

2/08/2012 O.C. foreclosures for sale at 20-month low – Orange County Register

2/08/2012 Homes in foreclosure decline by 130,000 – CNN

So tie in all of the information above, you can see the "green shoots" of a housing turn around. When you tie this to record low mortgage rates you can project into the future that we possibly could see a housing shortage in about 2 years! Don't wait until this point to start looking. Start looking now! Go out and get pre-approved by a good lender and visit my web site to see what's out there! www.myslohomefinder.com