California Job gains & increases in California home listings

Some great news coming out of the California job growth sector this month.  Employers have created 44,800 positions in California in the month of August.  This added to a stellar year of job growth in 2018 totaling 348,900 jobs with 4 months to go!  What does that mean to us locally?  Since July 2,500 jobs have been added in Sonoma County and 1,000 jobs were added in Marin.  With the job market and the checks coming each week/month from those jobs directly tying into the housing market I’d say we are still trending in the right direction.  Does this mean that the housing market will continue to climb?   No one can say for sure but it certainly is a good sign that the bottom will not fall out anytime soon. 

For the 5th strait month listings in California have also increased.  In fact this Aug there were 17.2% more listings then had on the market last August.  Although pricing has began to slow down on these listings the number of listings themselves continues to rise.  What we have seen in the local Petaluma Real Estate Market is a upwards trend in price reductions the last month.  Listings that would have had multiple offers 4 months ago now are starting to sit 3 weeks.  Value’s are not dropping but the days of 10+ offers on every home are starting to disappear.  Great news for the local Petaluma home buyer. 

Mike Ward

Petaluma Realtor