The growth in the number of homes for sale in El Dorado Hills has ground to a halt.
After seeing the number of homes for sale in EDH more than triple since March, potential sellers have hit the brakes.
While a few weeks ago experts were predicting that supply would continue to grow causing a drop in prices, what we’re seeing now is the supply is leveling off well below 2019 numbers – what many have been calling “normal.”
It is still possible that supply levels continue their upward trend, but that would be counter to typical seasonality when we see inventory start dropping in September through the end of the year.
It appears now that forecasts calling for a continued increase in the number of homes for sale based on the increase between April and June are having to be adjusted.
For at least the time being, we are leveling off in a range below historical norms.
Sellers and buyers are much closer to being on equal footing and should have confidence that the bottom isn’t falling out of the market.
