National Noise, Local Opportunity

by Kalani Stone

Watch my last video here :

https://www.youtube.com/watch?v=3BmrIge1Q5s

Not just opening doors — I’m opening the right ones

Hi ,

The market feels noisy right now.

National headlines are talking about slow sales, affordability pressure, higher mortgage rates, and buyers who are still cautious. Existing-home sales barely moved in April, rising just 0.2% nationally to a seasonally adjusted annual rate of 4.02 million. Inventory improved, but sales are still moving well below what most people would consider a normal housing market. NAR reported 1.47 million homes available at the end of April, which is up from March, but still not enough to completely unlock the market.

In plain English?

We are coming off one of the slowest housing markets in decades, and 2026 has not suddenly turned into a runaway recovery.

But that does not mean nothing is happening.

It means the market is more selective.

And locally, that is exactly what I am watching.

Last week in Santa Cruz County, the median home price was $1,495,000. The average days on market was 108. Price reductions were at 31%.

We also had 346 single-family homes and 109 condo/townhomes on the market.

At the same time, only 33 homes went into escrow and 37 homes closed, while 78 properties came on the market and 30 additional homes reduced their price.

That tells a much more useful story than “the market is good” or “the market is bad.”

It tells us sellers are paying attention.

Many sellers are not sitting back and waiting for the market to come to them. They are adjusting. They are making their invitation price more attractive. They are trying to meet the market where it is today, not where it was two years ago.

And here is where the market gets interesting.

The right homes are still getting attention.

In some cases, the right homes are still seeing multiple offers. Not every home. Not every neighborhood. Not every price point.

But when a home is priced with intention, prepared well, and positioned clearly, buyers are still responding.

For buyers, this creates a different kind of opportunity than we saw during the frenzy years.

If you are not finding what you want in your price point, this may be the market where you look slightly above your range at homes that have been sitting — and then negotiate down.

That is very different from chasing the most obvious house at the very top of your budget with several other buyers doing the same thing.

When affordability is already tight, the opportunity may not be in fighting for the same homes everyone else wants. It may be in finding the homes other buyers have overlooked, watching for price adjustments, and using terms, credits, repairs, closing cost support, or a rate buydown to make the payment work better.

For sellers, this is not a panic market.

It is a precision market.

The sellers who understand that list price is an invitation — and that pricing position matters just as much as price — are giving themselves the best chance to create real activity.

The mistake right now is assuming buyers are gone.

They are not gone.

They are selective. They are payment-sensitive. They are comparing value. And they are willing to move when the home, the price, and the strategy make sense.

Nationally, the spring market may feel underwhelming. Locally, the tide is more specific. Some homes are sitting. Some sellers are adjusting. Some buyers are gaining room to negotiate. And some well-positioned homes are still creating competition.

So the question is not, “Is this a good market or a bad market?”

The better question is:

Where is the opportunity in this market for you?

If you are buying, the opportunity may be in patience, negotiation, and looking where other buyers are not looking.

If you are selling, the opportunity may be in becoming the home buyers compare everything else to — not by guessing high, but by creating confidence from the beginning.

The headlines may be loud.

But locally, the real story is this:

The market is moving. It is just not rewarding guesswork.

Every neighborhood has its own story. Every property has its own position. And every move deserves its own strategy.

Guiding you home with Aloha,
Kalani

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