Navigating the Current Market: Don't Believe Everything You Hear

Dustin Cheatham

Real Estate

Navigating the Current Market: Don't Believe Everything You Hear

If you're relying solely on the media for market news, things may seem pretty dire. But don't be fooled – the media tends to sensationalize things and make them seem worse than they actually are. In reality, the market is gradually improving. While it's tempting to compare prices and interest rates to previous years, it's important to keep in mind that those were exceptional times and not the norm. Even compared to those outlier years, the current trend is not drastically different. There are seasonal fluctuations every year, and the market is no exception.

It's worth noting that home prices are on the rise, so keep that in mind if you're in the market for a new home. On the upside, this indicates that you have a higher chance of building equity in your home if you decide to buy one.

Below is the Median sales price over the last five years for Butte County. 

At the start of this year, the Days on Market (DOM) were higher than usual, but the trend has since stabilized, and we are now averaging at 15 DOM.

After a period of economic uncertainty, many real estate experts are predicting a rebound in the market that could lead to increased demand and rising prices. While there are still some risks associated with investing in real estate, many analysts believe that the potential rewards outweigh the potential drawbacks. As such, savvy investors are already starting to position themselves for success in this exciting and dynamic market. Whether you're a seasoned professional or a first-time buyer, now is a great time to explore the possibilities of the real estate market and start building your wealth for the future.

If you're looking to invest in Chico's real estate market, it's important to do your research and work with a trusted real estate agent who understands the market trends and can help you navigate the competitive landscape. Don't be discouraged by the current market conditions – with the right strategy and approach, it's still possible to find a great deal on a home or investment property. And if you're a homeowner in Chico, now may be a good time to consider selling as demand remains high. As always, it's important to stay informed and make decisions based on a thorough understanding of the market. The team at Upside Real Estate is here to help with any questions or concerns you might have about the current market and we would love to guide you in all of your real estate needs.

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