A recent report by the California Association of Realtors put in ink what agents have been feeling and seeing for the past several months: The market has basically peaked. Yes, there will still be very small rises in median home prices overall, but that will be due more to sellers still not heeding their agents advice.

First-time home buyers are the ones most affected by interest rate hikes, tight supply, and the economy. They have stepped to the sidelines recently as the government shutdown cast doubts on where these factors are headed next. This is a sharp contrast to a year ago today when:

The first-time buyer market was more competitive when compared to the repeat buyer market,with 62 percent of all first-time buyer transactions receiving multiple offers, 40 percent havinga sold price above the asking price, and properties typically staying on the market for 12 days.

Other highlights from the report:

Sellers have not been moving as often as in previous years, with a typical seller owning his/her home for 11.5 years before selling, the highest level in at least the last 38 years. The trend was especially obvious for older generations, as baby boomers typically owned their property for 15 years before selling, while the Silent Generation held on to their properties for 30 years before selling.

They predicted prices will rise only 3% this year vs. the 7% a year ago.

Many Realtors will tell you that even the 3% price rise that is forecast will likely be amended. Why? The staggering percentage of homes that are reducing their asking prices after 30 and 60 days of sitting on the market with few showings…

Below, a look statewide at the new high price mark set last year.

As of August of last year, the number of home sales was down 8% and the number of listings on the market was UP 20%. California is stalling out….

Enough about the entire state:

Santa Clarita Single Family Home Stats for 2018

Median Price Per Sq. Foot on all homes sold: $301.50

Median Year Home Built: 1991

Median Lot Size: 7,361 sq. feet

Median Home Living Area: 2,010 sq. feet.

Homes Sold: 2,337

Median No. of Days on the Market: 19

In just the last 6 months, we are seeing Santa Clarita slowing down a tad too:

Number of homes sold:  1040 (pacing for 2080/year… a drop from last year’s 2337)

Median Price: $590,000 vs. last year’s $594,292.

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Check back here in future weeks for real estate data you can use to make an intelligent decision about buying, selling or investing in real estate.