February 2020 SoCal Real Estate Market Update
Welcome to the February 2020 SoCal Real Estate Market Update!
January 2020 started off exceptionally strong because we experienced a lower inventory level, combined with high demand, at all price points.
If you’ve been thinking about buying or selling a home in Southern California, this update will provide you with information about what’s happening with the SoCal Real Estate market.
It’s A Great Time to Sell
Sellers are getting top dollar for their homes right now; the amount of money that we were able to get our sellers in the last 30 days was fantastic and left our clients very satisfied.
Buyers have some frustration right now because interest rates are low. They want to buy Real Estate but they are frustrated because they’ve been facing multiple offers from other buyers.
How Long Is It Going to Last?
If you’ve been thinking about selling your Southern California home, you may be wondering how long will the current conditions in the Real Estate market last?
The answer to this question is nobody really knows how long these conditions will last. What we can tell you is that it’s likely that the Southern California Real Estate market will stay “balanced” in 2020 as more inventory is coming to market beginning in February while interest rates remain at their current levels.
Will The 2020 Election Affect the Real Estate Market?
Yes, the Real Estate market could cool off a little bit beginning in October, due to the 2020 elections, but we feel that the Southern California Real Estate market is going to stay balanced for most of the year.
To recap, the market is healthy right now for buyers and sellers across the board so 2020 should be a great year for buying or selling your primary home or adding a new SoCal investment property to your portfolio.
Contact the Fred Sed Group