October 2019 Southern California Real Estate Market Update

Welcome to the October 2019 SoCal Real Estate market update!

It’s hard to believe that we’ve already finished the first three quarters of 2019 and are starting the fourth quarter.

In this Real Estate market update, we will share with you the latest news for where the local real estate market is right now, and what we can expect from it within the coming months.

How Is the SoCal Real Estate Market Doing Now?

If you follow the Real Estate market as a whole, you know that many states have been reporting their home sales have been slowing down in 2019. The big question is how has the SoCal Real Estate market been doing in 2019?

Thankfully, the Southern California Real Estate market, year-to-date, has been a healthy Real Estate market. 

What does this mean? Unlike the Real Estate market of two years ago, that was a sellers-market, the current Southern California Real Estate market is neither a buyers-market or a sellers-market. We’re seeing an equal amount of activity from both buyers and sellers.

What About Mortgage Interest Rates?

With healthy market activity, the next question is how are mortgage interest rates affecting the real estate market? 

Since mortgage interest rates dropped earlier this year, they’ve remained low all year long. This has, of course, helped the Real Estate market, especially buyers who were “on the fence” waiting for rates to drop before they purchased homes.

Expectations for October Through December

At the Fred Sed Group, we expect the Real Estate market to remain active in the 4th quarter of 2019 (October-December) and anticipate an increase in home-buying activity as we get closer to December.

If you plan on buying a home before the end of the year make sure that you get pre-approved to lock in a low mortgage interest rate, find a great property that has everything you’re looking for, and most important of all, verify that your loan has great terms that you’re attracted to.

There’s no doubt that as we have a decent amount of inventory in the Southern California Real Estate market right now so you can move forward with confidence that you’re going to be able to buy a great home that you will love.

Are you planning on selling your home? Now is a great time to list your home especially before the holiday season begins since some buyers may pause their home-buying plans during the holiday season.

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 us today by calling (800) 921-9231 or connect with us online.