May is typically a hot month for real estate with listings coming to market and buyers opening up escrow after kids are out of school. The pandemic has shifted the seasonality of real estate and 2020 and 2021 didn’t follow the traditional trends of the housing market.
If you’ve read your Apple News headlines or had casual conversations with friends about the housing market, then you know that everyone has an opinion. The market is crashing. The market is going up. Move out of state. Never sell your California home.
Here are 5 points on the Real Estate Market today in Southern California:
1. It is still a Seller’s Market
2. We have low inventory especially in the more entry level price points
3. Mortgage interest rates are at least a point higher than they were at this time last year which means Buyer’s Monthly Payments are up
4. It is extremely important to price your home right to get the most eyes on it, more offers, and put you in a position of negotiating strength
5. If you have regrets about not buying a year ago, unfortunately hindsight is 20/20. The next decision is whether buying makes sense for you in May 2022
We all wish that we could turn back time: sell that stock, buy that house, visit that now closed restaurant. We can’t go back in time, but we can look at today and the future to make the decision that works in the present.
As always, one of our real estate agents is happy to swing by your house and give you a personalized analysis of what your home is worth. Send our number to your friends, family, anyone with real estate questions and we will give them a 5 Star experience. Office line is 626-609-2130.
You’re invited to 2 upcoming events!
1 – Tuesday May 3rd at 4:30pm: “7 Home Selling Myths: Busting Common Misconceptions”
2 – Saturday May 7th at 10am (In Person at our office): “Estate Planning Basics: More Than Just a Trust” taught by Attorney Cloyd Havens. Facebook Event Page: https://fb.me/e/1zXb63yuC
We hope to see you pop on the Live Stream or come in person on Saturday morning!