3 Leaf Realty broker Jerry Carew has a simple explanation for why home sales are picking up. It’s March.
“In good years and bad, the cycle is the same. Home sales are slow in January and rise to a peak in May or June. Last year it was May. The previous four years it was June,” he said.
Carew relies on hard numbers in advising clients.
“Last week, 49 percent of beach homes on the market were in escrow. The previous two weeks it was 47 and 45 percent. That tells you it’s a hot market for sellers.”
The numbers also tell Carew that prices will continue their upward trend.
The current home inventory is at the 2005 level, when the low inventory sent prices skyrocketing. The 2008 collapse, he noted, was foretold by a steady increase in inventory.
“Real estate is predictable. It’s supply and demand,” Carew said. “When I see inventory start to rise, I advise my clients not to swing for the fences.”
Based on previous cycles, he anticipates the market slowing down in 2017.
1716 Manhattan Beach Blvd., Suite A, Manhattan Beach. (310) 546-6300. 3leafrealty.com
