November 11, 2020
By Saeed Ghaffari
So Cal Market Beat with a Focus on Dana Point
Red dots are all over the graph.
For the 3rd week in a row we see a decline in active listings on the market in So Cal. We also notice a drop in new listings in 5 out of 6 counties in So Cal. Closings also dropped in all 6 counties and so did the number of days on the market for closings. One can interpret the latter as positive news, but it can also be a sign of slowing down and lenders and service providers catching up with their overwhelming amount of business.
Despite the slowdown across every category, there is a healthy inventory of active listings in So Cal. The interest rates are still very low and a buyer frenzy in almost every corner of the market.
The winter is here, not literally, but is close, we went through an intense election week with pandemic is still in place (hopefully not for long).
Are you seller? Consider selling now.
Are you a buyer? If you are buying for personal use, find the house you like, take advantage of the low rates and go for it. Are you think of buying for investment? Unless you are buying it from a distressed seller, think twice.
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