What are we to make of this information stew? The LA Times Andrew Khouri reports this morning that “SoCal home prices remained flat in July from a month earlier as more houses went on sale and interest rates rose.” This adds to yesterday’s piece which was inventory-specific, ie. the run-up in prices we saw in previous months has sellers feeling pretty bullish (and they should!) So it’s still a “seller’s market” out there. But more inventory = more choice = good news for buyers.
As for the high cost to own, Alejandro Lazo reported Monday that “California’s post-recession moment for housing affordability appears to be ending fast.” This is never good to hear, but we’ll stay positive for the following reason: Developers who sat out the housing recession are gearing up right now, with major housing projects in the pipeline to meet any taste. We’ll have more to say about this soon, as Tracy Do Real Estate will present a modern and quite affordable home ownership opportunity in the heart of Northeast LA. Check back to this website, or contact us anytime at Tracy Do Real Estate.
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