ADD THESE SPOOKY OCTOBER THINGS TO YOUR WEEKEND LIST

ANG
Oct 1, 2023
2 min read

Updated: Jan 7, 2024

F A L L 🍁 I N G

It's that time of year when we hit reset, recalibrate our routines, dust off the pots and pans, and slow our rolls just a bit. So let's get a temperature check on the market, shall we...

Housing supply is down, mortgage rates are still high, and there are plenty of factors (anti-development ordinances/costly transfer taxes) working against the LA market at the moment. The peak has passed like a ship in the night, and homeowners sitting pretty on 3% mortgage rates aren't exactly motivated to sell. Leaving us with some m-a-j-o-r pent-up demand. So the burning question remains...is now a good time to buy?

The higher-ups at the California Association of Realtors predict that the market is ripe for a rebound in 2024. And while there is no good news on the affordability front (but is there ever in LA?), C.A.R.'s chief economist says we may see rates slide into the mid-5s sometime next year. So even if things aren't looking good borrowing-wise, if you have the means to get in the game, now's the time to take advantage of the lull. Because as soon as rates dip and inventory loosens up, you can bet the competition will be stiffer than a Tower Bar 'tini 🍸. Plus, you date the rate and marry the house. You'll not only relish the price appreciation, but also have the option to refi down the road.

O C T O B E R ⌁ R O U N D U P