Garrigus Real Estate Blog: News & Market Trends

 Check out our Real Estate Blog! We strive to be a wealth of information, covering everything from national real estate news, California housing markets, local market statistics, home values, and even community happenings. That’s because we care about our communities and want to help you find your place in them. Do you have questions? We’d love to talk with you!

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May 12, 2022

Beaumont, California Active Listings - May 2022

The Beaumont, California housing supply is on the move. It's May 2022 and the hot housing markets have done little to cool off. In fact, if it wasn't for rising interest rates would we see any type of slowing of home sales and prices?

The housing supply has been the bane of homebuyers' existence the last couple of years, and the boom of home sellers' equity. A standard market, one that's considered 

Stucco Home in Beaumont CA

normal and neither a seller's market nor a buyer's market, has six months of homes for sale. This means it would take six months to sell off the inventory.

So what does this mean for us now?

Below is a quick graph of Beaumont's active listings for the last year. As you can see in the graph, the number of active listings appears to be on the upswing compared to the rest of the year. According to this data, we're already seeing 150% more active listings in Beaumont from this time last year.

Beaumont Active Listings (Year-Over-Year)

And historically speaking, Beaumont has seen active listings in the range of almost 300 listings at a time, as seen in the 5 Year graph of active listings below. We've seen active listings dip far below the 100 count in the past few months!

Beaumont Active Listings (5 Years)

And if you compare Beaumont, California to its parent County of Riverside, you can see the pattern is not the same. Riverside County has a huge dip since the beginning of the year. But it also matches (maybe) the recent climb back up of active listings currently in the market.

The housing markets have been crazy. Homebuyers have been challenged in every way imaginable. But seeing the data for Beaumont and where the housing inventory may be going gives some hope. Beaumont is one of the fastest growing cities in California and has been a good indicator of where things may be headed.

Do you want more information on the city's housing market? We've compiled a ton of graphs and data for home buyers and sellers. Check it out here:

Riverside County Active Listings (Year-Over-Year)

Want to talk? Call Us Now!

Call Now: (888) 766-8363

March 24, 2022

Feb 2022 California Sales, Price Reports - THE SHOCKING HOUSING DATA!

The California Association of REALTORS® researches data and releases infographics on a regular basis to help consumers better understand California's real estate market, and where the trends may be going. And the start of 2022 has brought a lot of questions about how home sales will trend.

Is COVID still affecting the market? Is the Ukraine-Russia War disrupting home sales? How does California real estate prices compare to a general consensus of buyer's sentiment for February 2022?

Today we're going to look at two of CAR's new infographics (Below):

  1. California February 2022 Sales & Price Report
  2. February 2022 California Housing Sentiment Index

First, according to the Sales & Price Report, pending sales continue to go down. And they're currently declining at a double-digit pace. Simply, less and less California homes are going into escrow. BUT, the median price of the state's housing inventory is still growing.

Also highlighted on the CA Feb 2022 Sales & Price Index is the sales-to-list price ratio. It's the highest its been in the last six months at 102.6%.

Second, the CA Feb 2022 Sales & Price Report points out the palpable exhaustion homebuyers continue to feel with the declining pending homes statistic at 12.5%, while the median California home price had double-digit growth. This comparison speaks volumes! Plainly, less buyers are going into escrow, while home prices continue to rise.

FEB 2022 HOUSING DATA

If you'd like to learn more about the state of California's housing market, and dig a little deeper into specific neighborhoods or areas, you can use our free and easy Housing Reports Data Tool to customize for any area you want. This will give you Active, Pending and Sold listing data useful whether you're buying or selling. Or price any home with this Home Valuation Tool that uses deep MLS and other public information data to determine a home's value.

California Sales & Price Report - February 2022

California Sales & Price Report - February 2022

 

California Housing Sentiment Index - February 2022

California Housing Sentiment Index - February 2022

March 16, 2022

SoCal Housing Inventory -We've Hit A New LOW (Obviously) - March 2022

Housing inventory is low, obviously. I write "obviously" because only people with their heads' in the sand thought any different. Just look around: if you're a shopping homebuyer, sifting through listings entails "Pending" listings instead of going through "Active" listings. If you're a REALTOR® you are either coaching your buyers to keep a stiff upper lip and not give up on their homeowning dreams, or you're coaching up your sellers (if you have any) about the "maximizing their return" tightrope their sale will walk.

Housing inventory is extremely low here in Southern California. In fact, inventory has been low for years, but like the cliché suggests 'we've hit a new low'. And we have. And I brought statistics in the form of a CRMLS graph of all listings in Southern California over the past five years, or at least all listings in the CRMLS.

Southern California - Inventory Months Supply

Take a look at the graph below. For context, six months of housing inventory is considered "normal". Or in other words, it takes six months to sell the inventory currently on the market. In previous years we considered inventory low at three to four months of surplus. Now we are at one month of inventory at this given moment in March of 2022. Can we get any lower? The graph has bottomed out. How can inventory continue to fall when we've already hit bottom?

The good news is home sellers' opportunities seem to still be available. If you're considering selling your home, now may be your best time to "Make the Mooove!" (Lol! Had to get our tag line in there...)

Get a SoCal REALTOR®

Call (888) 7-MOVE-ME

 

SoCal Housing Inventory (by Month) - March 2022

 

-Todd Garrigus, Broker
Garrigus Real Estate

Jan. 30, 2020

New Listings in Southern California to Start 2020

New Listings in SoCal Jan. 2020

It’s the end of January 2020. We have a new year and we are staring down the barrel of a new selling season in real estate. In Southern California we see a slow-down in listings that dip in late December and January every year. This year is no different according to the data graph below.

But this year is not quite the same, either. The total new listings reported in the Southern California MLS, the CRMLS are seeing record lows. This is incredible considering a few factors happening right now. First, interest rates are incredibly low, providing buyers with more buying power. Second, prices are up. Sellers are getting what they are asking for!

Usually in a real estate climate like this, home sales would be chugging along nicely. So are we only seeing just the slow-down that happens every year? Will new listings start pouring into the market in the coming months?

This quick graph with data pulled from listings reported on the CRMLS shows how listings peak in the spring months starting in February, and eventually trail off by end of year. What will we see in the next sixty days?

Call (888) 7-MOVE-ME

April 24, 2018

Jacqueline Smith featured in popular South Coast magazine!

REALTOR® is only one of Jacqueline's many talents!

It is said that one person can only do so much, but we're waiting for that cliche' to prove itself true for our agent Jacqueline Smith. Jacqueline joined Garrigus Real Estate back in April 2017, and we've been amazed with her Jacqueline Smith Featured in South Coast Magazine!talents, and drive, ever since! {View Jacqueline's Real Estate Profile}

Jacqueline sells homes like she was put on this planet to do so. But we soon found out there is so much more to her, like singing! If you get a chance, check her out at some of the various events she preforms the National Anthem at.

Jacqueline is also a Navy veteran, runs marathons, works at the award-winning Cloud Nine Medical Spa in Redlands, and even travels internationally with her famous husband, Jim Smith, known affectionately by his many fans as "Jimbo". But don't let the active lifestyle fool you- she's finds the time to raise a family of seven!

And that's exactly why Jacqueline Smith was highlighted in South Coast magazine.

If you're looking for a talented REALTOR® that can do it all, look no further than Jacqueline Smith. You can read the full South Coast magazine article here, or learn more about Jacqueline on her Garrigus Real Estate profile. Jacqueline also appears periodically on her husband's fun-filled show, The Jimbo & Inman Show!

Jacqueline Smith Featured in South Coast Magazine

Connect with Jacqueline Directly:

Jacqueline Smith/REALTOR®

(760) 265-4075

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April 15, 2018

Subprime Loans Repackaged as "Non-Prime" Loans

Subprime Loans Repackaged as "Non-Prime" Loans

Subprime loans weren't the only reason why we had the housing crash of the last decade, but they definitely lead the charge. They were never completely gone, but the term "Subprime" still leaves most feeling the pains of short sales and foreclosures.

And that's why Wall Street, who made a killing off of subprime loans before, have repackaged them as "Non-Prime" loans! So will it work? Probably; there will always be a market for these types of loans as long as people with less-than stellar credit buy homes. I just hope that the oversight and underwriting regulations keep the mortgage pools healthy.

Click on the links to explore our housing market reports, short sales, or foreclosures.

Or call to talk to one of our Agents On-Demand:

April 10, 2018

Welcome to GarrigusRealEstate.com!

Welcome to the new GarrigusRealEstate.com! We're happy you found our new website here! A while ago, we realized that many of the websites and home listings on the Internet are geared towards getting leads, but not developed for the usability of its users!

We feel that is unacceptable. If a real estate website is created to attract a home buyer or seller, it should serve those consumers first and foremost. Honestly, consumers will not stick around long anyways if a website isn't giving them what they want. And that is exactly what our mission is: to create a real estate website for California consumers that they not only stick around to use, but they also enjoy using!

No tricks. No slick deceiving links with "click bait". We just want to provide the best platform for listings, real estate market data, news and anything else that helps a consumer find what they are looking for. So what does that include? Here's a few examples of what we will provide on this website:

California Real Estate Listings

First and foremost, we offer listings of houses and other real estate for sale. What's a real estate website without listings? GarrigusRealEstate.com will always display the most comprehensive listings we can provide. We are a California real estate brokerage, so we focus specifically on California listings. We also offer an Advanced Home Search. It was engineered to provide a multitude of search criteria to choose from. Its perfect for someone searching homes and real estate that wants to detail exactly what they're looking for, and get those results!

We also insisted that this website work well with all forms of devices, including desktops, mobile devices like cell phones and iPads, or anything else with a web browser! Not to brag, but this website works great on smartphones! (OK, I bragged a little...)

Data, and Market Reports

Today's real estate consumer is intelligent and informed. We in the real estate industry owe them full transparency and data about what's happening in the neighborhoods and markets they are interested in. That's why our Housing Market Reports are comprehensive and detailed. They are also customizable, so a consumer can dig into the data as far as they want to go. Don't tell anyone, but this can be your secret weapon for understanding your neighborhood, and any other community you're interested in!

Agents On-Demand

What are Agents On-Demand? They are members of our real estate team, dedicated to assisting you, when you need it! That's why our main company phone number (888) 7-MOVE-ME is ready to connect you to any of our agents ready to help you, when you call. Even if you call right now!

Real Home Values & On-Demand, Instant Home Values

Do you want to know what your home value is? Do you want the valuation instantly, On-Demand? You can use our instant On-Demand Home Value tool. Would you like a more detailed report, prepared by hand, by real REALTORS®? We also offer our Real Home Value reports, prepared by hand, by actual REALTORS®, free of charge and with no obligation to list or sell with our company.

But Wait, There's More!

We also try to provide as much information to consumers regarding short sales, foreclosures, land, real estate laws and other governmental regulations, events, or anything else that affects housing. Our goal is to make this website your go-to for anything California real estate you need.

So how can we help? You can either explore GarrigusRealEstate.com, call us now at (888) 7-MOVE-ME, or contact us using the comment section below. And thank you for coming by and reading my blog post!

 

-Todd J Garrigus

Garrigus Real Estate

Posted in Broker Blogs