Should I buy or should I wait?
Every indication in the local Southern California market is that home prices are moving up with little indication of retreat. National Association of Realtors statistics show the 1st quarter of 2017 home prices nationwide were still moving positive.
Here is what we do know.
1) Interest rates will trend up. When interest rates reach historically low levels there is only one way for them to go. That is up! As one lender put it, interest rates cannot go any lower because rates are so low now, banks would have to give up any profit to do the loans.
2) Inventory is low - Homes, like all goods and services, are subject to supply and demand. The lower number of saleable homes creates a pinch in the market and competition for scarce supply. Home prices will trend upward in a transition to a stabilized market. We are seeing a low inventory situation in the market with steady demand for homes. It is a good time to purchase.
3) Prices are stable but may rise in the future - Over the last 24 months we have seen an increase in prices however average interest rates have remained fairly low allowing buyers stronger purchasing power.
Would you like to have your ideal home now at a price and interest rate you can easily afford? Call me today and let's find the home you desire at the price that works for you!
Call me today at 661-755-5711