Real Estate June 19, 2012

Shortage in Santa Barbara continues

With historically low interest rates and the lowest real estate prices seen in close to 10 years there are many reasons to consider purchasing a new home. The difficulty for many buyers now is a growing shortage of properties to choose from.

At this time last year there were a total of 953 active listings in the Santa Barbara area. This year there are only 671, representing almost a 30% drop. With more buyers looking the competition is getting fierce. This same scenario is happening in many Southern California real estate markets as pointed out in the recent L.A. Times article that was published on June 10th. “The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes.” Click here to read the full article.

I appreciate hearing from you regarding the type of property you’re looking for. With immediate access to new and upcoming listings I can help you curb the shortage of finding a good home.