|August 4, 2016||No Comments|
Should you sell your house right now? Well… YES!
Why? Prices are, kinda high! In fact, the median home price in the US hit its 52nd consecutive month of growth in June, reaching an historic high! That’s 1% higher than the peak in 2005! We’re baadaaa-aaaack!
Nationally, there’s a 4.6 month supply of homes. Anything under 6 months is a seller’s market. Here in LA/Ventura County and where I live in Simi – there’s only a 2 month supply of homes. That means if no more homes were listed starting right now, in two months, in theory, there would be no homes left for sale!
There aren’t nearly enough homes to meet the demand, ESPECIALLY on our So Cal market.
I know I keep harping on this, but you’re gonna kick yourself if you don’t take advantage of this – interest rates are still unbelievably low! As of today, you can get a 30 year fixed rate for 3.43%!
And in July the fed opted to NOT raise the federal funds rate – again. Traders think when the fed meets again in Sept there’s a 20% chance they’ll raise the rate… and a 50% chance it’ll be raised by their final meeting of the year in December.
The fed is talking like things are a little better – job gains were good, and households are spending more – but inflation is still low and they are being cautious about the global economy.
But for YOU, if you’re wanting to sell a house, it’s a glorious time. So list that puppy!
Jones Home Collective
2655 First St Suite 150 Simi Valley CA 93065
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