Why High Interest Rates Aren’t Pushing Down Home Prices

December 14,2023 | Posted By Dinorah Carmenate in re

Here’s a great article that talks about why we are not experiencing the downfall of home prices or maybe just a slowdown.

While we are no longer seeing home values go up in double digits as in 2021-2022, home prices are still going up.

The number that really has changed is the number of homes sold. Year over year the number of homes sold went down to 21.5 percent.

Homes in Southern CA have gone up 3 percent so far year over year. I think we are going to continue to see a slowdown in home sales with a slowdown in home prices.

This will all depend on the economy, the interest rates, available funds for lending, and most importantly, the affordability of homebuyers to purchase at a higher rate and price.

If you or anyone you know wishes to sell, call me.

Read the Article Here
Source: Calmatters.org

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