SoCal Beach Cities Market Report 092222

Dated: September 22 2022

Views: 1

"REALTOR RON'S"
Beach Cities Market Report

Residential / Luxury / Investment
Call/Text   714-955-1393

Fed's Bumping the Rate as Predicted
Last week, several encouraging indicators were released that suggest the economy continues to move forward despite various challenges. However, headwinds continue to emerge and although growth continues, it is downshifting. Inflation surprised to the upside, led by core goods showing little signs of slowing. At the same time, consumers have yet to meaningfully pull back on goods spending with real retail sales rising 2.1% in August. This week, the Feds pressed ahead with another significant rate hike. Home sales perked back up in August, but affordability will continue to suffer as rates began rising again after a brief reprieve in July and early August.

Number of Months of Inventory = 2.3

Average Days on Market = 25

 
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>>>>LA & Orange Counties<<<<
1,370 Closed Sales Last Week!!!
3,997 Closed Sales MTD

Active Listings "Stats"
9/15/22 - 9/21/22
Orange County
Single Family Residence - 181
Townhome / Condo - 89

Under Contract this Week - 385
Los Angeles
Single Family Residence - 797
Townhome / Condo - 263
Under Contract this Week - 802
Data Source:  CRMLS
Interest Rates
Changes from Previous Week
30 Yr Fixed - 6.36%    +0.06
15 Yr Fixed - 5.60%    +0.10
FHA 30 Yr - 6.00%       +0.44
Jumbo 30 Yr - 5.72%  +0.12
Data Source: mortgagenewsdaily
Homes For Sale
"Easy Links"
Data Source:  CRMLS
Orange County
https://www.ocweekly.com/

Los Angeles County
https://www.laweekly.com/calendar/
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RON PHILLIPS
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Email:  RealtorRonPhillips@gmail.com
RealtorRonPhillips
RealtorRonPhillips
SUMMERLAND REAL ESTATE
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