2020 July Real Estate and Mortgage Trends – Southern California
Confident homebuyers hurry into the market and are locking in the low rates. Demand for mortgages saw a 33 percent spike as the set another record low. Homes are flying off the market quickly. Some markets saw listings last only 4 to 6 days before pending.
Homebuilders had strong sales in the month of June, bringing the largest gain in over a decade, but struggle to meet the high demand for new homes. Is it time to buy or sell? Reach out and let us help you navigate the hot real estate market.