The housing market is constantly changing and each year buyers and sellers are seeing adjustments. In the year 2013, the changes are making a difference in the possible sales that may occur. Before you start looking for a home or consider selling, you need to know the current trends and future potential.
The prices for homes in California are on the rise, but 2013 is not yet seeing significant changes and is not expected to see major jumps. Instead of a large leap, the increase is a small step forward.
Interest is Rising
The interest rate for a new loan is starting to creep up, which is not completely unexpected. The rates were very low in the last few years and they have been slowly increasing over time.
Fewer Houses are Available
A major difference is the number of houses on the market. Fewer homeowners are selling, which is resulting in a lower inventory for new buyers.
The market conditions play a significant role in the ability to find a home or sell a house. Although the current conditions are seeing increased rates and limited availability, the market can change swiftly. To learn more about the market in California, contact Brighton Escrow.