We hope you enjoyed your Halloween last week and the Dodgers win! It was a good week for Los Angeles and Southern California with the World Series win and cooler weather.
Here are 5 quick takes on the U.S. Economy and Housing Market provided by the California Association of REALTORS market minute:
1. New home sales increase in September
2. Jobless claims unexpectedly fall
3. U.S. single-family home rent prices see steady increase
4. Mortgage rates continue to rise as mortgage applications drop
5. Inflation expectations steady for one year but increase in the long-term
Here are 5 quick takes on the local market:
1. Trust sales and inherited properties continue to be common as life events are motivating sales.
2. First time home buyers benefit from a slower less competitive fall and winter when submitting offers and purchasing a home.
3. Buyers are willing to pay a premium for remodeled homes, properties with ADUs or second units, and homes in certain locations.
4. The decrease in mortgage rates makes it realistic for many homeowners to sell and buy and leverage their equity into their next property.
5. Home buyers are becoming familiar with Buyer Representation Agreements and the new real estate practices at showings and open houses
We are entering the last 2 months of the year: what do you want to accomplish before the end of 2024? What real estate goals are on your list?
We are here to help!
P.S. Did you know that on our listings we do professional photography, drone videos, Matterport 3D tours, staging, and more! We have contacts for estate sales, a handyman, and more to help get your property ready for market!
Call, text, or email anytime!
