2020 August Real Estate and Mortgage Trends – Southern California
August claims to be the peak season for Real Estate. Listings are still low but purchases and refinance applications have increased. Homes continue to sell due to tight inventory and rates are holding historic lows, even after the first sharp rise in two weeks. Experts say it’s hard to predict if they will stay low, but Freddie Mac did confirm it is indeed a seller’s market. If rates continue to rise, it could affect the market that has been one of the strongest in the current economy.