Are We at The Peak of The Market?
One of the most popular questions that buyers and sellers have on their minds concerning Southern California Real Estate is if we’ve reached the peak of the market or not.
This is an excellent question to ask because the market has continued to grow over the last two years, and home values in Southern California have now surpassed where they were before the Real Estate market crashed in 2008.
The answer to this question, based on our data and 13+ years of experience in Southern California Real Estate is yes, we have reached the peak of the market.
How We Know We’ve Reached the Peak of The Market
Right now, there’s no question that we’ve reached the peak of the market in Southern California.
How do we know?
Ever since the Real Estate market crashed, and prices rebounded over the last 7-8 years, prices are at an all-time high in about 80% of the zip codes in Orange County and Southern California.
This means that in almost every community in Southern California, home values have reached their all-time highs.
What Does the Mean to You?
Like anyone who is planning on buying or selling a home in SoCal, you most likely are wondering what this means to you.
If you’re a homeowner, you may be wondering if you should cash out now and sell your home before home values begin to drop.
What if you plan on buying a home? Should you wait until the home values drop before you actually buy?
The reality is that there are so many things that we can advise you to do that it just depends on your specific situation and what you have to do with Real Estate.
After having a conversation with you, we might advise you on one of the following options:
- It’s a smart choice for you to wait 12-18 months to buy a home.
- Wait 3-5 years to sell your property
- Cash out now, sell your home for the most money possible, get your equity, and move onto your next home.
- Get a mortgage loan with an excellent interest rate and buy a home as quickly as possible.
You Need A Specific Plan for Buying or Selling Real Estate in Southern California
The most important thing that we want to you to take away after reading this article, or watching our video. is that you have to have a specific plan for buying or selling Real Estate in Southern California. Especially right now when prices have reached their peak.