housing market

October 2018: Santa Cruz County Real Estate Update

October 2018: Santa Cruz County Real Estate Update

The time may have finally come. After what has felt like an eternity for many would-be home buyers, the crazy seller’s market we’ve grown so accustomed to seems to be cooling off…but it comes with a catch: rising interest rates.

It has been relatively smooth sailing for sellers over the last few years. Demand for housing has risen in conjunction with the improving economy and builders have struggled to keep pace with demand. This has resulted in a shortage of housing inventory that allowed sellers sit back, kick their heels up and let buyers quickly bid up the price of their homes.