Buyers & Sellers Adjust To Interest Rates - July 2023 Housing Market Update

After many months of very subdued activity, we're starting to see an uptick in the number of homes that are selling, which is great news. It seems buyers and sellers are adapting to interest rates, which for all we know, could stay elevated for a lot longer than we think; or, they could even keep rising as we see increased pressure to combat sticky inflation.

Inventory currently seems to be the main constraint in the Los Angeles market, which is evidenced by median sales prices remaining elevated. It seems demand is continuing to outpace supply.

 

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

 

How can we help you with your real estate needs? Give us a call today.

 

The Weber Real Estate Team

424-237-8570

BRE 01949818

www.SouthBayOnSale.com