We’re well into August, which means it’s time for a quick Santa Clarita market update and a primer on what you can expect for the rest of 2019.
In terms of inventory, there are 598 homes available. As far as home sales go, there were 379 in July, which is way up compared to the monthly sales we saw earlier in the year. Over the last three months, 1,071 total homes have sold, which puts us at about a 350-homes-per-month average. This tells us the market has been strong this summer.
As you may have heard, the Federal Reserve recently cut interest rates. This might not have that much of an impact on interest rates, but it’s designed to strengthen the economy. If this cut does what it’s supposed to do, things should move in the right direction.
Low inventory is keeping our market in check, but buyers are still buying, and interest rates are below 4%. As the economy improves, interest rates will eventually rise, but for the next few quarters, they’ll stay low. This means the window of opportunity is now for buyers and sellers.
If you have any further questions about our market or what you can do to take advantage of it, don’t hesitate to reach out to us. We’d love to help you.