For about the last 6 months the demand for houses has dropped. We’ve had to lower our prices and wait longer to get our properties sold. As we have tried to discern why, the following come to mind: 1.) Interest rates have gone up. 2.) Job growth has not taken root, leaving fewer qualified buyers. 3.) Uncertainty caused by the government shutdown kept people out of the market. 4.) And, about one-third of the home owners in Fresno County still owe more than their homes are worth; thus they can’t move up.
Some of this has been confirmed by the website propertyradar.com. See the attached weblink.
http://www.propertyradar.com/foreclosure-report/real-property-report-california-september-2013