California’s housing market witnessed persistent challenges in June as home sales remained below the 300,000 benchmark for the ninth consecutive month. This trend was primarily influenced by the sustained elevation in interest rates during the preceding months. However, there was a glimmer of improvement, with the year-over-year decline in sales moderating, falling below 20% for the first time in twelve months.
missed it or have not joined my mailing list, click the link below to read the latest market news, real estate market, and what is going on in the Desert. Enjoy!
about a possible government default have had negative effects on both interest rates and consumer sentiment and are directly impacting the housing market. While new home sales continued to improve as tight supply remained an issue in the existing housing market, demand could dip in the short term as rates remain elevated. With consumer spending staying solid and inflation not easing in the latest reading, the housing market could face additional headwinds as the Fed contemplate on having another rate hike in their June meeting.
May is “National Home Improvement Month.” And what better way to celebrate than to find the Joy Levels in home remodeling projects?
The National REALTOR Association recently sent out a study of the costs of home remodeling projects vs Joy-specific home remodeling projects bring.
What does it mean to be in a “Seller’s Market”? Let’s review what the difference is between a Buyers’ Market and Sellers’ Market: Buyers’ Market: There are more houses on the market than Buyers. (Favors the Buyers) Sellers’ Market: There are more Buyers than Houses in the Market. (Favors the Sellers)
Real Estate News in Brief – Existing home sales jumped in February, the first increase in 13 months, as buyers took advantage of 30-yr rates that were briefly near 6% in January. An inflation-focused Fed raised rates for the 9th-straight time, but suggested a pause from here is possible.
at’s Stopping You from Selling Your Home? In the Palm Springs area, as with many of the United States, current homeowners are not listing their homes for sale for several reasons. Perhaps they fear the unknown market, and potential higher interest rates, or they just love their home and will own it forever. However, if and when someone lists a home, it usually has many showings and multiple offers within hours and days after listing.
Planning on Retiring and Moving to the Desert? It’s that time in your life when you retire and look for a fun (and possibly warm) place to spend your retirement years. You’re still very active and enjoy golfing, pickleball, fine dining, the theater, and friends – lots and lots of friends.
