Welcome to the January 2020 SoCal Real Estate market update!
Last year, we talked every month with you about the condition of the Real Estate market and shared with you our insight on the direction that the market was heading in.
2019 was a good year for real estate in Southern California since it was a very stable year that saw an even amount of activity among buyers and sellers while interest rates remained fairly low.
What can we expect in 2020? In this SoCal Real Estate Market Update, we will break down some of the things that you can expect this year.
Home Inventory Remains Low in Southern California
As of January 2020, home sales activity is picking up as many buyers are returning from extended vacations after the holidays. Low-interest rates have definitely helped keep the Real Estate market moving, especially during January, when it’s still traditionally slow after the holidays.
The good news is that moving into February, we can expect more inventory to come to the SoCal Real Estate market. This is something that we’ve seen happen every single year, and by Valentine's Day there will be normal inventory once again.
What Will Influence the Real Estate Market This Year?
In 2019 we saw several factors influencing the SoCal Real Estate market including the trade war with China. Since this year is going to be a major election year, with a Presidential Election coming up in November, we see the Real Estate market as a whole remaining “stable” all year long.
Historically speaking, in Presidential Election years we typically don’t see any major changes in the economy because both political parties in the United States aren’t eager to make any moves that could “rock the boat” economically.
Things could change though in November of 2020 if a new President of the United States is elected, but for now the 2020 Real Estate market is shaping up to be another very good market like it was last year.
Contact the Fred Sed Group
Are you thinking about buying or selling a home in Southern California? If so, contact us today by calling (800) 921-9231 or connect with us online.