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Good News For The Market?

The reason I titled the update with a question mark is that the economy has slowed to a degree and there is sufficient fear a raise could harm the economy.

A slow or slowing economy is, of course, not great for the real estate market, but neither would be higher rates. We have already seen slowing at the ultra high end ($5M+) and high end ($3M+) home market. The unique economics of our area has kept the lower and middle ranges of the housing market fairly active.

I expect that the housing market will experience an increase in market times for properties – in fact, many areas have seen market times creep from 30 to 60 days – and hopefully an increase in inventory. For the foreseeable future, as rents remain high, and housing remains in short supply, it is likely that the lower and middle range of homes will remain relatively stable in value.

For more information or for a consultation with me or one of my team members, please call or email.

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