L.A. Housing Scene
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Home Sales Surge Locally

Home sales surged by 24% in February, with the buying season kicking off early this year, possibly driven in part by our very mild winter. Home sales are up 12% this February, compared to Feb of 2015.   Interest rates are lower now than they were at the end of 2015 which is enticing more peeps to get into the home-buying fray. Of course, if you can manage all cash versus getting a loan, your chances of snagging the home of your dreams definitely increases, as it makes you a much sexier buyer. Interest rates have crept up a tiny bit over the past two weeks, but overall are still quite low (under 3.7% for 30-year fixed loans, and 2.96% for 15-year loans).

It’s definitely an excellent time to list your home – with inventory at significant lows – buyers are willing to pay a hefty premium to secure the home they want. 2016 is looking good for continued appreciation here in SoCal.

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