Is NOW A Good Time To Buy A House?

WELL??? Is now a good time to buy a house? But why??? Today we’re in the studio with Anouheh Moghaddam with Movement Mortgage and we’re talking about a Market Opportunity that’s happening right now in the South Bay Real Estate Market. With the mortgage interest rate hikes in 2022 slowing the market, home buyers currently have an opportunity to potentially not have to compete with multiple offers and be able to negotiate with the seller for better terms.

Mortgage Interest rates have come down from the mid 7%’s in November of 2022 to the high 5%’s! That has already started to heat up the market. There’s still time to get in now. But when rates start hitting 5% and if they drop below that, we’ll be right back to the hot sellers market and super competitive conditions for home buyers. We’ve seen an uptick in listing inventory… which is actually GOOD. But inventory is still lower than normal and we’re just not sure when we’ll see that return to normal here in the South Bay.

Currently here in the Beach Cities of Manhattan Beach, Hermosa Beach and Redondo Beach, we’re seeing a bit of a lull in the real estate market. Yet it’s typical to be quieter from Thanksgiving til end of January… the last 2 years were anomalies. The Spring Market is usually the hottest market and we’ll see how it fares this year with much higher mortgage rates than previous Springs.

It’s an interesting market for certain. But again… if you’re thinking about buying… NOW would be a great time to get in with much less competition than we’ve seen in the last 3 years.

Text me if you’d like to talk about this further and make a plan… even if it’s months off… it’s good to make a strategy!

310-502-4240

You can contact Anouheh here:

310-208-1988

anouheh@movement.com

Watch & see what we have to say.

Ciao!