Are Prices Going Down? Are They Going Up?
This is the number one question I get when talking to home buyers. Well, maybe number two (what’s going on with rates is number one). And although I don’t have a crystal ball to foresee what home prices in Southern California will be like, we can look at the data and arrive at some educated guesses.
REMEMBER
You don’t have to be an expert in getting a home loan – that’s my job. I’ve been doing this so long, I know how to navigate through all of the rules and guidelines to find you the best loan at the best price. Schedule an appointment so we can get you ready to start shopping for your dream home! Or if You’re ready to get the process started, start an application to get the ball rolling. I’ll take it from there.
Over the past year, home prices have been a widely debated topic. Some have said we’ll see a massive drop in prices and that this could be a repeat of 2008 – which hasn’t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the country. And as we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices this year and beyond.
Selma Hepp, Chief Economist at CoreLogic, says:
“While 2023 kicked off on a more optimistic note for the U.S. housing market, recent mortgage rate volatility highlights how much uncertainty remains. Nevertheless, the continued shortage of for-sale homes is likely to keep price declines modest, which are projected to top out at 3% peak to trough.”
Read the entire article at https://www.mykcm.com/blog/whats-ahead-for-home-prices-in-2023
I’m Your first Call.
Your first step should always be to talk to a mortgage professional. Schedule a time speak with me today, it doesn’t matter if your’e already under contract, or if you are buying until next year. I need to make sure we get you ready, and that you’re doing the right things today, so when you do make an offer, you are all set. I see too many people that take advice from the internet or non-professionals and mess up their chances to buy.
Talk to Jesse – Mortgage Expert
My name is Jesse Rivera. I’m licensed in the State of California and I live and work in beautiful Long Beach, CA. I can do loans for the whole state of California, but I specialize in SoCal, especially Long Beach, Los Angeles County and Orange county.
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