Summer is almost gone and we are still seeing that the real estate market is HOT! HOT! HOT! True to what we are accustomed to, August brought a slight slowdown in sales as families try to squeeze in last-minute vacations, kids go back to school, and everyone is trying to get used to the new routines that the new school year brings.
Prices are holding steady and the news of another rate reduction by the Federal Reserve is encouraging to buyers who were once on the fence. One thing to note is that the rate cut from the Fed does not directly impact long-term rates, such as those in fixed rate mortgages.
What is the point then? The Fed is aiming to shield the American economy against disruptions from the U.S.-China trade war and slowing growth in Europe and Asia. Tariffs and other trade uncertainties have hurt domestic manufacturing, weakened business spending and raised the risks of recession. So what they are doing is trying to make sure that we don’t fall into a recession.
Here is what we saw in changes in Price/Days on the Market/Active Listing Available in August
As always, I am here to help you understand the real estate market. Please do not hesitate to reach out to me with any questions that you may have.
I am only a phone call, email, or text message away and would love to get you the answers that you are looking for.
Yesenia Ruvalcaba-Garcia , 626.252.0839. Yesenia@NewCenturyBroker.com