Good morning!
Tis’ the season for peppermint mochas, gingerbread houses, Holiday lights, and Santa in the Plaza!
If you are looking for festive things to do this holiday season, then come by the Plaza in front of our KALEO Real Estate office in downtown Glendora to meet Santa! Visit on Saturday December 7, 14, and 21 and meet Santa from 5-7pm and enjoy caroling from 4-6pm. One of my favorite things about our office location is that we are in the heart of downtown for all the holiday events — Holiday Stroll, Santa in the Plaza, Wine Walk, and the Halloween trick-or-treat!
As for your real estate news update: “Mortgage rates fell from 6.84% last week to 6.81% for a 30-year fixed home loan for the week ending Nov. 27, according to Freddie Mac.”*
If you are putting a 4% mortgage rate on your Santa Wish List, then you are not alone — but Santa probably won’t be leaving that as a present! Although it is likely rates could be in the 6 percent range in 2025, don’t hold your breath for a 4% mortgage rate. The 2, 3, and 4 percent mortgage rates during the pandemic were perhaps a once in a lifetime window.
Realtor.com reported that, “Buyers braving the holiday housing market will find newly listed homes, which climbed by 2.8% for the week ending Nov. 23 compared with the prior year. This marks the fourth week with year-over-year new listing growth over 1.5%.”*
More listings on the market mean more options for buyers which is good! Homes are staying on the market longer and whether that is because buyers are more timid, the holidays dampen buyer’s motivation, or homes are overpriced, the number of days on market is up from last year in 2023. “Homes spent nine extra days on the market for the week ending Nov. 23 compared with the same time last year. (The average home spent 58 days on the market this October.)”*
What is YOUR favorite holiday activity? We are always looking for ways to celebrate the holidays.
Take care!
