The Porter Ranch real estate market is showing positive trends all over the place. Low inventory and low interest rates are great for buyers and sellers.
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It may be hard to believe, but we’re already in September. With the fall season here, we thought it would be a great time to give you a quick update on what we’re seeing out there in the real estate market.
Inventory is still quite low in Porter Ranch, as are interest rates. A combination of both has allowed prices to remain stable. However, there’s not a lot out there for buyers to choose from because we haven’t seen as big of an influx in inventory this summer as we’re used to. Inventory is down about 9.5% from this time last year, but buyers are still active. There are lots of buyers looking to take advantage of low interest rates by getting into new homes.
We won’t know where rates are heading until December.
With higher demand and a diminished supply, a lot of people who have bought homes over the last few years are choosing to not sell. They are instead keeping their properties as rentals and buying another home. That’s keeping a lot of inventory off the market.
What can you expect over the next year? A lot of that is going to have to do with what happens with our inventory and our interest rates. We won’t really know much more until December when the Fed meets after the election. Here’s what we do know: it’s a great time to buy with these historically-low rates.
If you have any questions for us, don’t hesitate to reach out. We look forward to hearing from you soon.
