Housing Watch: Market begins to heat up with the weather

Updated 2 hours ago
FRESNO, Calif. (KFSN) -- Experts say a sluggish start to the warm-weather home-buying period has ended, with many Valley families now ready to make a move.

"May was a little bit slow real estate-wise, the first part of the year, but now it's picking up quite a bit," says Carmen Jimenez Phillips of Century 21 Select. "July has picked up more than June."

Phillips is a past president of the Fresno Realtors Association.

She notes homes are moving faster in Clovis neighborhoods, despite their higher median price point.

"In Fresno County, we're looking at about $405,000, which is still conservatively priced compared to the state at over $900,000," she said. "If you're looking at Clovis, we're over $500,000."



Jimenez Phillips says Valley homes generally stay on the market for about 25 days, despite tough economic times and mortgage interest rates at about 6.5%.

"I can tell you the numbers are really great," she said. "The values are staying up high. The market is doing great price-wise, but our families are still finding it unaffordable because of the state of the economy right now."

With a 3 1/2 month inventory, more homes to pick from, those in the market do have more room to negotiate.

Properties priced too high tend to sit on the market longer.

"I think what's happening is they're used to seeing prices that we had six months ago or a year ago," Jimenez Phillips said. "Their neighbors sold their home for this much. They want this much today. They're not realizing the market is changing."



Jimenez says that a year ago, she may have had one or two properties to show clients.

Today, that number's much higher, with 5-10 homes available to show.

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