Wednesday, August 28, 2024 / by Dick Keenan
As we look ahead to 2025, it’s essential to understand what experts are predicting for the housing market. Whether you’re considering buying or selling a home next year, having a clear understanding of the projected trends can help you make well-informed decisions about your real estate plans.
Here’s a closer look at the latest forecasts for mortgage rates, home sales, and home prices in 2025.
Mortgage Rates Expected To Gradually Decline
Mortgage rates are a key factor in the housing market, influencing affordability for buyers and overall market activity. According to forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo, mortgage rates are anticipated to decrease slightly throughout 2025.
This expected decline in mortgage rates is largely attributed to the easing of inflation and a modest increase in unemployment rates—indicators of a strong but slowing economy. Many experts b. ...
Read More
real estate, keller williams, central coast, selling a home, home purchase, home ownership, housing affordability, housing market update, real estate market update, market update
Monday, August 19, 2024 / by Dick Keenan
If you’re considering buying or selling a home, mortgage rates are likely at the forefront of your thoughts. These rates play a crucial role in determining how much you’ll pay each month on your mortgage, so it’s important to factor them into your plans. Here’s what you need to know about the current mortgage rate landscape and how it affects your buying power.
What’s the Current Trend with Mortgage Rates?
Recently, mortgage rates have been on a downward trend, which is promising news for those looking to buy a home. However, it’s essential to remember that mortgage rates can be unpredictable. They are influenced by a variety of factors, including the state of the economy, the job market, inflation, and the Federal Reserve’s policies.
As Odeta Kushi, Deputy Chief Economist at First American, points out, “The ongoing deceleration in inflation, coupled with the Federal Reserve’s recent indication of potential rate cuts [in 20. ...
Read More
real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, home purchase, home ownership, california, buying, first time home buyer, real estate market, housing market update, mortgage rates, budget, for home buyers, move up buyers, affordability, home loan, home pricing, refinance
Wednesday, February 24, 2021 / by Traci Pimentel
Market Update
Weekly San Luis Obispo County Numbers are in, as well as the California Association of Realtors January 2021 Report and First American Title Company's Central Coast January 2021 Recap.
Tight inventory is making 2021 a great year to list a home! It's important to remember that the housing market today is not the same as the housing market during the 'Bubble Years'. Lower mortgage rates and rising incomes correspond with higher house prices, strong demand and low inventory.
Winter months tend to show slowing in the Real Estate industry year over year. Mortgage rates are beginning to inch up, however the FEDs have indicated they don't intend to raise the National rate anytime soon. For buyers, NOW is the time to take advantage of these historical low rates while they last!
Despite possible improvement on the supply side of the market as we approach the Spring Selling Season, upward pressure on prices are continuing to build up. With current inve ...
Read More
real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, selling a home, realtor, real estate agent, real estate market, sellers market, low interest rates, low inventory, housing affordability, real estate market update, housing market update
Wednesday, January 27, 2021 / by Traci Pimentel
Market Update
San Luis Obispo County hasn't seen much change with New Listings hitting the market in comparison to the previous couple weeks. We did see a nearly 13% increase in properties going Pending. With more than 15% less properties sold this past week, the uptick of escrows opened, and no influx of inventory hitting the market, we're still very much in a Seller's Market.
A swell of buyers are looking to enter the market, keeping demand firm amidst the continued historically low interest rates. By the 4th quarter this year, experts are forecasting that refinance volume will decrease, largely because many will have already refinanced due to these low rates.
In 2020, median listing prices grew 13.3%, according to Realtor.com. Experts forecast prices will stay on this upward track.
Even if home prices rise as forecasted, that w ...
Read More
real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, selling a home, realtor, california, low interest rates, real estate market, sellers market, low inventory, real estate market update, housing market update, mortgage rates, cost of housing in california, market update, housing economy, home report, housing update, real estate projections, economy, home sales projections
Thursday, December 3, 2020 / by Traci Pimentel
Market Update
We've seen greater than a 50% drop in inventory since mid-October.
With so few homes on the market, buyers have been grasping at straws.
Interest rates are still hovering at an all time low. With an upcoming shift in Presidency and so much uncertainty with Covid-19 cases surging, home buyers want to take advantage of the low rates while they last.
REAL TIME MARKET NUMBERS
PISMO BEACH STATS
ARROYO GRANDE STATS
GROVER BEACH STATS
OCEANO STATS
AVILA BEACH STATS
SAN LUIS OBISPO STATS
NIPOMO STATS
ATASCADERO STATS
TEMPLETON STATS
PASO ROBLES STATS
MORRO BAY STATS
CAMBRIA STATS
CAYUCOS STATS
LOS OSOS STATS
Fewer new sellers coming to the market while a greater than usual number of buyers continue to search for a home causes inventory to continue to evaporate. Historically, six m ...
Read More
real estate, keenan carter group, keller williams, central coast, home buyer, san luis obispo county, selling a home, time to sell your home, low interest rates, real estate market, low inventory, real estate market update, housing market update, sellers market, housing economy, selling during the holidlays, housing crisis, housing projections, inventory shortage, real estate projections, sell during an inventory shortage
