Spring has sprung, which means our market is heating up.
Looking to buy? Search homes here.
Selling your home? See how much it’s worth.
The LA Real Estate Market is Hot This Spring!
Now that the warmer weather has set in, our market is starting to heat up as well. This is great news regardless of your real estate goals, as buyers and sellers alike currently have the chance to enjoy these favorable conditions. Here’s what’s so great about buying or selling a home in spring.
Demand & Inventory are High
Real estate is all about supply and demand. The warmer spring weather brings out the buyers. And when the demand goes up, so do the number of homes for sale.
This is good for both buyers and sellers! For sellers, more demand means more buyers looking at your house. And for buyers, the increased number of homes on the market means more choice in your home.
Prices are Rising
Rising prices are good for buyers and sellers, too. For sellers, higher prices mean more money. For buyers, rising prices mean instant equity! Plus, buying now means you’re buying at a lower price than if you’d waited a few months for the market to really get crazy.
Interest Rates are Stable
Interest rates were at a historic low back in 2016, and since then, they’ve been on the rise. However, the numbers are still comparatively low—and it looks like they’ll stay that way. The Federal Reserve has stated they plan to keep the rates stable, which is good news for buyers and sellers.
For buyers, stable interest rates mean you can definitely still get a good deal on a loan—without rushing to accept a loan option out of fear of interest rates jumping up. For sellers stable rates mean buyers will continue to flood the market looking for homes—even if you’re not ready to sell right away.
Ready to Buy or Sell a Home This Spring?
If you’re ready to take advantage of LA’s hot spring market, please reach out so we can help. To learn more, watch our short video above!