If you’re a Millennial (age 18 to 34) you most likely will have read tons of reports online about how Millennials have been priced out of the SoCal Housing Market and the reality is that even though the current real estate market can be described as competitive the reality is that now is still a great time for millennials to buy homes in SoCal thanks to these reasons.
Even though the Fed has been flirting with raising interest rates for much of the year we still have historically low mortgage interest rates and that makes now a great time to buy for any Millennial because we most likely will not see rates this low again in the next 30 years.
#2 – All of SoCal Is Not Overpriced
One of the great things about real estate in 2016 is that not every community in Southern California is overpriced and you can still find a great single family home, condo or townhome within your budget especially if you hire the right Southern California real estate agent to help you with your home search.
#3 – More New Homes Are Being Built
Over the last 12 months, we’ve seen more new home construction than ever before. This means that construction is finally catching up with where it should be following the last recession and with more new homes on the market Millennial home buyers have more homes to choose from in Orange County and elsewhere across Southern California.
Millennial home buyers should not give up on their desire to own a SoCal home especially if they have good credit, a secure job, down payment and have been pre-approved for a mortgage loan. Let us help you find the home in Southern California that you’ve been searching for!
To learn more about the Southern California Real Estate market contact Fred Sed Realty today by calling us at (800) 921-9231 or connect with us online.