The inventory of homes for sale in Santa Clarita is increasing. It's increasing slowly, but it's increasing. A major contributing factor to the steady increase of homes for sale, is that the Federal Tax Credit to first-time homebuyers ended April 30, 2010. In addition to the homebuyer credit ending, Santa Clarita bank owned homes are in low supply. The fact that banks have not been foreclosing as quickly, therefore putting much less "great deals" onto the market, has possibly stalled some of the home purchases that may have taken place otherwise. Much of the inventory that is being listed are short sales and regular sales where the owner has equity in the home. Santa Clarita short sales tend to have a high days on market statistic because it's generally difficult to get the bank to approve the short sale quickly, and regular sales tend to not be discounted from the real market value, in contrast to many bank owned homes, or the perception that bank owned homes are discounted.
The increasing supply of homes is great for Santa Clarita homebuyers, in that it will give them more options when searching for a home. There is still a historically low inventory right now, as we are at about 900 homes for sale in Santa Clarita. But 900 Santa Clarita homes for sale, is much better than 600 or so homes for sale, which is where we were earlier in the year.
Listen is to this SCV Real Estate 360 episode #53, where Brian give you his take on the Santa Clarita inventory of homes for sale. He also touches on some of our listings that will be hitting the market over the next several weeks. Enjoy!
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