Housing Market Update w/e 10/14/23

An update on the California and Orange County real estate markets with the latest data from the California Association of Realtors (CAR).

CAR economists point out cautious moderation in the consumer price level, which should be amplified more in October thanks to lower prices at the pump. As long as inflation continues to moderate, we can hope the Fed won’t make another move upwards on rates anytime soon.

Mortgage rates (as well as other fixed income rates) jumped last week due to continued uncertainty in the economic outlook and heightened geopolitical tensions.

To end on a more positive note, while this market is challenging for home buyers, a majority of people surveyed by CAR felt it was a strong market for sellers.

If you are looking to buy, sell or invest in real estate in the next few months, I would love to talk to you.