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January Home Sales and Price Report

The real estate year is off to a good start, both here in Los Angeles and statewide. Statewide, single-family home sales in January increased 8.8 percent over January, 2015. This was the best performance for January home sales in three years.

Los Angeles county home sales were not far behind increasing 6.5 percent over the preceding January.

http://www.car.org/newsstand/newsreleases/2016releases/january2016sales?view=Standard

As you will see below, the strong sales are driven, in part at least, by these low interest rates. Mortgage rates have fluctuated between 3.5% and 4.5% for the last 4 years. Still, we should all keep in mind that the mortgage rates in the below 5% range are actually historically low within the broader time line of mortgage rates.

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And we would be delighted to help you take advantage of them while they last.