Is the Sizzle cooling in the Southern California real estate market?
November home sales were down over 12% Nationwide, as the country saw it's biggest decline in home sales in over a decade.
According to the LATimes.com, economists noted several possible causes, such as concern about increased mortgage rates, and nasty weather in many parts of the country.
Nonetheless, Southern California home sales are at almost the same pace as last year. Additionally, late November and early December mortgage applications were reportedly higher than expected.
Still, while there are many buyers in the Southern California home market, they are taking their time and they have a lot more choices. With area home prices up 24% over last year, most buyers are not rushing into home purchases right now.
Many buyers; however, analysts note, don't like the current high prices of California homes, but they also realize that today's low rates might be a once-in-a-lifetime event.
California Mortgage Broker?
California Real Estate Agent?
According to the LATimes.com, economists noted several possible causes, such as concern about increased mortgage rates, and nasty weather in many parts of the country.
Nonetheless, Southern California home sales are at almost the same pace as last year. Additionally, late November and early December mortgage applications were reportedly higher than expected.
Still, while there are many buyers in the Southern California home market, they are taking their time and they have a lot more choices. With area home prices up 24% over last year, most buyers are not rushing into home purchases right now.
Many buyers; however, analysts note, don't like the current high prices of California homes, but they also realize that today's low rates might be a once-in-a-lifetime event.
California Mortgage Broker?
California Real Estate Agent?
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