Sunday, October 25, 2015

October Real Estate News


The big news this month is that the Federal Reserve decided to hold off on raising interest rates. With the stronger employment numbers and the economy picking up momentum, this decision came as a big surprise as a rate hike was widely anticipated by many analysts. The recent signs of a global economic slowdown and the decrease in energy prices added more reasons for the Fed to remain cautious. One of the questions going into 2016 will be the timing and strength of any rate hikes.

Pending sales in Southern California decreased 8.9% from August but up 10.2% from September 2014.
 

Here are some local number's, home prices for July-September 2015 vs. same period last year:

Glendale               up 6.5%
Burbank                up 3.2%
Toluca Lake          up 37.7%
Pasadena              up 2.9%
Studio City            up 5.5%
Hollywood Hills    up 0.0%
Valley Village        up 6.0%
Sherman Oaks      up 9.4%


Please let me know of any questions that I may help with or if I can provide you with specific information regarding your home!



Tip of the month

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