SoCal Beach Cities Market Report 113023

Dated: December 4 2023

Views: 1

"REALTOR RON'S"
Beach Cities Market Report

Residential / Luxury / Investment
Call/Text   714-955-1393
The Rates are Falling, The Rates are Falling!!!

Mortgage rates declined further during the Thanksgiving holiday and have reached the lowest point in nine weeks.
 They have declined from the recent peak by more than 50 basis points (bps) and continued to improve. While housing inventory remained below the historical norm, mortgage applications have been rising in the past three weeks, which is an encouraging sign to the market. Since a home sale transaction typically takes 30 days to 60 days to close, sales could see a bounce back in December or January. The Fed could be done with raising rates, it may not start cutting rates until the end of the first quarter when clear signs of economic weakening are observed.

 

Please contact me if you have any questions or if  there is anything I can do for You!
 

>>>>LA & Orange Counties<<<<
470 Closed Sales Last Week!!!
4,033 Closed Sales MTD

 

Number of Months of Inventory = 2.3

Median Days on Market = 13.5
Active Listings "Stats"
11/23/23 - 11/29/23
Orange County
Single Family Residence - 75
Townhome / Condo - 43

Under Contract this Week - 190
Los Angeles
Single Family Residence - 386
Townhome / Condo - 136
Under Contract this Week - 422
Data Source:  CRMLS
Interest Rates
Changes from Previous Week
30 Yr Fixed - 7.13%     -0.19
15 Yr Fixed - 6.50%     -0.20
FHA 30 Yr - 6.50%       -0.15
Jumbo 30 Yr - 7.60%   -0.11
VA  30 Yr   -   6.50%     -0.15
Data Source: mortgagenewsdaily
Homes For Sale
"Easy Links"
Data Source:  CRMLS
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RealtorRonPhillips
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