Even though the Federal Reserve kicked up the Fed Funds rate by 1/4% in December, January had very solid numbers for California real estate.
It’s normal for fence sitters to jump when there is a interest rate increase trend becoming obvious to the population, but given the ongoing low inventory, and tighter loan underwriting guidelines, it may not result in a large increase in sales (like prior cycles). Expect continuing price appreciation.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth