December 2019 Southern California Real Estate Market Update

Welcome to the December 2019 SoCal Real Estate market update! 

It’s been a surprising year for sure because when 2019 started, most analysts had expectations that the Real Estate market would perform far differently than it has and so far, it’s surprised us all.

When we started this year, most people who watched the Real Estate market felt that the market was headed in the direction of a significant crash, or correction. The reality is that the Real Estate market has remained stable all year.

It’s Been A Balanced Market All Year Long

As we’ve mentioned in our previous Real Estate market updates, the Real Estate market has been balanced this year. We’ve had an even number of buyers and sellers but what’s also helped is that mortgage interest rates have continued to remain historically low.

Even with a balanced real estate market, a lot of markets also saw appreciation between 2%-8%. This is good news and gives every homeowner reason to hope that appreciation will continue in the coming year.

What Will the Real Estate Market Be Like In 2020?

If you’re thinking about buying or selling a home in Southern California, the good news is that as of today, 2020 is looking like it’s going to be another solid year for Real Estate. 

How do we know? 

Right now, we’re seeing normal days on market and strong demand for homes priced under $1 million while luxury homes that are priced over $1 million are taking longer to sell than they did in the past. c

Mortgage interest rates are still historically low and there’s still plenty of home inventory to choose from as buyers are moving forward with taking advantage of great opportunities.

Contact the Fred Sed Group

To learn more about the Southern California Real Estate market, or to speak with us about buying or selling a home, contact the Fred Sed Group today by calling us at (800) 921-9231 or connect with us online.