Welcome to the September 2019 SoCal Real Estate Market update!
In August we definitely saw a slowdown in activity when it comes to all home sales in Southern California, days on market increased, and more inventory came to the market.
Should you be concerned about where the SoCal Real Estate market is headed? The answer is no.
What happened to the Real Estate market in August is something that we see happen every year because of one reason, school is starting.
A Normal August For the SoCal Real Estate Market
When school starts, the average parent who was planning on buying, or in the process of searching for a house, will shift their focus from becoming a home buyer to getting their children back into school.
Thanks to many schools in Southern California now being year around, we actually see the traditional August slowdown start in the first week of the month and it can last until the last week of the month when all schools have restarted.
When Will the Market Pick Back Up?
The good news is that now that we are back in September, we can expect the Real Estate market to pick back up as parents will have their children back in school and resume searching for homes once again.
Since we are heading into the fall and winter months, you can expect normal home buying activity to continue until mid-November when people will start going on vacation for Thanksgiving.
The traditional holiday slowdown will continue through December as most people will be focused on celebrating Christmas and New-Year’s eve, but once January begins, we can expect market activity to pick back up again by mid-month as vacation has ended, relatives have gone back home, and normal life resumes once again.
Are Other Economic Conditions Affecting the Market?
If you watch the news, you obviously know that the United States is in a trade war with China right now and the Stock Market has also been volatile in recent weeks.
Even though there are other economic conditions that may be at play right we feel that the Real Estate market, especially in Southern California, is stable and will remain stable for the remainder of 2019 and beyond.
There are still many reasons why people will continue to buy and sell homes in Southern California for the remainder of 2019 including the fact that Interest Rates continue to remain historically low, and Real Estate remains an excellent investment, especially for people who are invested in the Stock Market and are looking for stable investments to protect their wealth.
Tips for Buying or Selling A Home In 2019
Now is a great time for you to make your move in the Southern California Real Estate market.
Advice for buyers: If you plan on buying, buy right. This means that you should take the time to review the cost of the home and make sure that it’s a mortgage payment that you really can afford to pay on a monthly basis.
Advice for sellers: If you’re planning on selling your home, you should make sure that your home has been cleaned, de-cluttered, and staged so that you can sell your home for top dollar.
Contact the Fred Sed Group
If we can assist you in any way with accomplishing your Real Estate goals in Southern California in 2019, or beyond, contact us today by calling (800) 921-9231 or connect with us online.