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Fresno/Clovis Real Estate News

Our team really enjoyed the opportunity to get out and participate in the Youth for Christ 5k run this past month!  Jesse's son Jed got first place for the kids run!

Market News

Housing tipping back to a buyer's market 
CNBC recently took a look at the housing market and how it is shifting in favor of buyers, after several years of home price gains on the seller side. The market has found a limit of what buyers can afford and thus sellers are lowering pricing at an increasingly high rate.

In fact, about 14-percent of all listing in June had a price cut, which was up from a low of 11.7-percent at the end of 2016, according to a report from Zillow. Home price growth is slowing in nearly half of the 35 largest markets in the United States. 


Prices are going down much faster in certain markets. In San Diego, 20 percent of all listings had a price cut in June, up from 12 percent a year ago. In Seattle, which continues to be the hottest market in the nation, 12 percent of all listings had a cut, the largest share in nearly four years. In Austin, Texas, also a very strong housing market, more homes are seeing price cuts as well.

On the flipside, there are still some markets where prices gains are increasing, but those are markets that have seen smaller price growth in the past few years. San Antonio, Phoenix, Philadelphia and Houston had fewer listings with a price cut in June compared to a year ago.

Among the largest housing markets, San Jose, Indianapolis and Charlotte, could see price growth slow the most over the next year, according to Zillow.

Rising mortgage rates are the biggest factor behind the shift from a seller's market to a buyer's market.

 

July by the Numbers*
Fresno Multiple Listing Service Numbers

  • Number of homes for sale 2017 vs. 2018 - 2367 vs 2523
  • Median price of sold homes in 2017 vs. 2018 $274,000 vs. $299,000
  • Months of homes in inventory before closing in 2017 vs. 2018 - 2.2 vs. 2.5

Unless otherwise specified, all numbers are Fresno County through 7/18.

Client Quote

Jolinda is amazing. It is a pleasure to work with a professional, polite, and knowledgeable team that gets the job done and does it the right way. The Penner Team handled my transaction professionally and efficiently with respect for my time and interests. There is no need to shop for agents once you get involved with the Penner Team. They will handle all of my business going forward.

                     Jason Meyers, Fresno, CA

Featured Listing

2280 E. Houston Fresno, CA. 93720
 
 
4 Bedrooms 2.5 Bath
1709 Sq Ft
This home sits on a wonderfully sized lot with a lot of mature trees. Right off the kitchen is a sliding glass door that leads to a deck. This home offers a unique lay out as a tri-level home. When you enter the home, stairs greet you to take you to the main level. The living room has a fire place and a nook for a dinning table. The remodeled kitchen has stainless steel appliances, many cabinets for extra storage. There are 4 bedrooms and 2 1/2 bathrooms, giving you a lot of room and endless possibility to create your own style. 
Jesse H. Penner
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The Penner Team · 1275 N Willow · Clovis, Ca 93619 · USA

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