Wednesday, October 7, 2020 / by Traci Pimentel
Even though we saw a slight decrease in new listings, opened escrows and sold homes this past week, the real estate market continues to thrive.
San Luis Obispo County has double the production currently compared to the state of the market in January of this year.
Despite the continued pressures of the pandemic, consumer home-purchasing power has stayed strong as mortgage rates remain at record lows. Meanwhile, for-sale inventory has continued to dwindle, dropping 17% nationally year over year in August, which created upward pressure on home price appreciation as buyers compete for the limited supply of homes.
Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.
The real estate market has ...
Thursday, October 1, 2020 / by Traci Pimentel
Whether we’re ready for it or not, the 2020 presidential election is right around the corner.
As if this year hasn’t brought enough uncertainty, an election could be causing your clients to question their buying and selling plans…again.
Rocky political environments can create instability in the stock market-causing consumer confidence to drop. But the real estate market isn’t rocky…it’s rock solid. And delaying plans could mean your clients missing out on once-in-a-lifetime affordability.
To get to the heart of this, it’s important to understand how the history of past presidential elections combined with today’s market factors might play out in real estate this time around.
Here’s what we know.
The Real Estate Market Might Slow Down-But Not for Long
Historically speaking, home sales typically slow down in the fall following the spring and summer rush. BTIG, a research and analysis company, looked at new home sa ...