Homebuying Institute

predicts higher rates and

prices for 2019

We are slightly over the halfway point for 2018 and are seeing some homes reducing their prices or staying on the market for longer. But don't be fooled, it's still a seller's market and will remain so heading into 2019 according to the HOmeBuying Instititute.

Along with higher prices,expect to see higher interest rates in 2019.
"Given the current supply-and-demand situation, it appears likely that home prices in most U.S. cities will continue to rise throughout 2019. This would be the continuation of an ongoing trend, rather than a new development.

According to Zillow, the median home price in the U.S. rose by 8.1% over the past year. They predicted that prices would rise by 6.5% over the next 12 months. This forecast was issued in July 2018 and therefore extends into the summer of 2019."

2018 PROPERTY VALUES ACROSS L.A. COUNTY BREAK NEW RECORDS

The collective value of Los Angeles County's 2.57 million real estate and business assessments, which are listed in the annual property assessment roll, is $1.57 trillion - an all-time high. After exemptions, the net total of $1.51 trillion is also a record for the county. This reflects 6.62% net growth over the prior year, or $93.64 billion.
 
This annual net growth is the greatest increase by dollar value since the 2008 downturn and is primarily the result of sales and new construction. The remaining 87.2% - or nearly 9 out of 10 - property owners will only see the standard 2% adjustment for inflation, pursuant to Proposition 13.

In addition to strong growth in real estate, the 2018 figures show optimism in the business sector, where business personal property assessments (e.g., fixtures, technology) grew by a record 5.9% to $80 billion. The image below highlights the key figures from the roll.


For more information on this, call me at 818-795-8474 or visit www.anaconnell.com for your free home equity checkup.

Here are some local number's; home prices for May 2017-July 2018
vs. same period last year:

   

Weekly mortgage rates:
30 yr. fixed rate        4.59        0.01
15 yr. fixed rate        4.05        0.03
5 yr. adjustable rate  3.90        0.01
Powered by MortgageCalculator.org