Family, Friends & Clients,
This past year has brought many significant changes to our local real estate market. Interest rates have risen by nearly 1% as the Dow Jones Industrial Average has risen by as much as 3,800 points. Unemployment has dropped to as low as 3.7% and home prices in many areas are up as much as 10%.
Our local real estate market has taken a breather due to the rising interest rates and uncertainty with a potential trade war. The Stock Market has been turbulent and home affordability has continued to drop.
You might think that this indicates the bursting of a bubble. I don’t believe there is a bubble at all. Home prices are in line with the long-term average growth. There are more people ready and able to buy than there have been in many years. People have more money than they have had in a generation. We are only feeling the affects of a pause in demand. People will begin to buy once there is a sign that they will miss out. This traditionally off season might surprise many and be one of the hottest buying holiday and winter seasons in quite a few years.
Are you ready to start seeing homes with us this year? Let us know about the homes you would like to see with details such as price range, number of bedrooms, locations of interest and other details. We will save your criteria in our MLS System and update you with new matching listings as the hit the market.
Your Friends & Realtor,
Tony & Dani Lewis RE/MAX of Valencia
Call/Text us at 661-510-7975