This month's real estate news:
Interest rates are poised for an increase with the release of the jobs report last week. U.S. job growth held steady, with a gain of 235,000 jobs, which will most likely give the Fed the green light to raise the federal funds rate when they meet this week.
Local inventory has increased with continued gains as we head into the spring selling season. Home prices continue to show strength in most of our local areas and overall most areas saw an increase in average sales price. Market strength still a huge motivation for homeowners thinking about selling.
Here are some local number's; home prices for December 2016-February 2017 vs. same period last year:
|Toluca Lake||- 30.0%|
|Studio City||+ 5.4%|
|Hollywood Hills||- 3.3%|
|Valley Village||- 4.1%|
|Sherman Oaks||+ 1.1%|
Please call me with any questions or if you would like to receive a free home valuation report specific to your property!
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
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