COVID-19 has lost its grip on buyer demand, but it is still preventing homeowners from listing their homes.
Lack of Supply: From March through today, one-third fewer homes were placed on the market.
For many Southern Californians, this is the time of year to flock to the beach. The warmth of the sand, the tranquil sounds of waves crashing, and a refreshing dip in the surf are an invitation that beckons Cali residents to come and relax. There are times when a decision is made not to go because of the fear that the beach is overcast and the ocean waters are too cold, also known as “June gloom.” For many, it is disheartening to find out later that the shores were sunny and the water was perfect, a missed opportunity for a wonderful day on the sand.
Similarly, many homeowners think that now is not a good time to sell because of COVID-19, that “June gloom” has shrouded the Orange County housing market due to the virus. With reports calling for prices to drop, many have come to believe that the market favors buyers and that it is exceedingly difficult to sell. After all, how can you sell a home in this environment, in the midst of a pandemic? These homeowners have their wires crossed and they could not be further from the truth.