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With the holiday distractions and New Year’s Resolutions behind us, the housing market in Orange and Los Angeles counties is thawing up! We’re picking up the pace and likewise, experiencing increased real estate activity.
Buyer demand actually dropped from the beginning of the year to the last week of January. That hasn’t happened in over a decade. You might be quick to blame the recent interest rate hike or global real estate market turmoil for this, but it’s not the case. Rates are lower today than ever before; the rate hike is intertwined with treasury bonds, not long-term loans. Although another rate hike could impact Southern California consumers, it’s unlikely to happen given international real estate instability and the fact it’s an election year. This creates a great opportunity for sellers.
The spring market approaches. There’s already an increase of inventory, but there’s less competition currently compared to the spring market. If you’re thinking of buying, it’s better to hit the ground running now rather than wait. Start today and get ahead.
I understand the local market and sell homes regardless of its climate. Although the media anticipates home prices will appreciate this year, it could work against you from supply and demand. There are more homes on the market compared to last year. More homes sit on the market, and there are more open houses as well. This happened eleven years ago just before the market shifted on everyone. Afterwards, so many clients told me how much they wished to sell their home before the market turned!
If this resonates with you, and you’d like to know your home’s value, let’s talk and get you ahead of your competition. Give me a call or email today!
