REAL ESTATE MARKET UPDATES-CALIFORNIA INVENTORIES DOWN 30%
According to information from the California Association of Realtors, our inventory of homes for sale are down 30% as compared to last year.
Drop in inventory expected to provide support for home prices. Demand continues to be strong in the "entry level" category of $1.5M and under.
Covid-19 spread wreaked havoc with reopening plans, and with the economy, which was down 5% in Q1 and projected down significantly in Q2.
I will continue to keep you updated, in the meantime, if you have any real estate related questions, I'm here to help, please give me a call.
Stay healthy and safe!
Ana Connell 818.795.8474
Some resources to check out:
CDC guidelines for cleaning and disinfecting.
Latest LA County updates
Centers for Disease Control and Prevention
Single family home prices(median) for April 2020-June 2020:
Glendale | + 1.5% |
Burbank | + 4.2% |
Toluca Lake* | + 27.0% |
Pasadena | + 3.1% |
Studio City | - 21.0% |
Hollywood Hills* | - 0.0% |
Valley Village |
+ 33.0% |
Sherman Oaks |
- 5.1% |
Woodland Hills |
+ .5% |
*Please note that this area had few sales so percentages
are somewhat misleading
Weekly national mortgage rates for loans under $400,000, top credit scores:
30 yr. fixed rate 3.07
15 yr. fixed rate 2.56
5 yr. adjustable rate. 3.00
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