Chico Housing Market: Blue Skies Ahead!
July 25th, 2008categories: Chico CA Real Estate Market Stats
by Mike Wiegert
A survey and report by the Leading Real Estate Companies of the World, a conglomerate of brokers in early July points to some easing of adverse conditions in the housing market.
Fifty-nine percent of those surveyed believe there will be a strong housing market over the next sixty days. An overly abundant supply of residential units is the foremost concern among those respondents surveyed with many seeing a decline in inventory from a year ago.
While eighty-two percent agree that prices are down, seventy-five percent indicated that such a decline is less than ten percent and thirty-three percent believe that prices have only dropped five percent in their communities. A statement issued by Leading RE, “We believe our affiliates represent a good cross-section of the U.S. brokerage community because many of these firms are the market leaders in their areas and encompass a large number of transactions.
The findings from this month’s ‘Housing Beat’ survey mirror what others in the industry are reporting – that we are not out of the woods yet, but that inventory is beginning to be absorbed, financing difficulties have eased, sellers are more realistic about pricing and buyers are growing impatient with waiting to purchase their next home.”
For questions specific to the Chico Housing Market, call Chico Homes 530-895-9378.
