Saturday, February 4, 2017

This month's real estate news-February 2017

This month's real estate news:
 

Interest rates overall have increased since the election but they have shown a bit of downward pressure over the last few weeks. The Fed held rates unchanged for February  and they are widely projected to raise the federal funds rate again at some point this year.Local inventory is somewhat anemic, which is normal for this time of year, you can anticipate that inventory will start to increase as we head into the spring selling season. Home prices continue to show strength in our local areas with a steady stream of buyers. Overall most areas saw a continued increase in average sales price. The market continues to show strength, now is a good time to consider selling.
Here are some local number's; home prices for November 2016-January 2017 vs. same period last year:

   
Glendale+ 10.6%
Burbank     +   2.7%
Toluca Lake+   2.2%
Pasadena+   2.9%
Studio City+   7.7%
Hollywood Hills+   3.6%
Valley Village+   2.8%
Sherman Oaks    +   8.1%


Please let me know of any questions that I may help with or if I can provide you with specific information regarding your home! Ana Connell 818-795-8474, ana @anaconnell.com.

Weekly mortgage rates:

30 yr. fixed rate        4.19       0.01
15 yr. fixed rate         3.40      0.06
5 yr. adjustable rate  3.20       0.01  
Powered by MortgageCalculator.org


Tip of the month



No comments: