The weather may be hot, but so is the Southern California real estate market. This according to Andrew Khouri of the LA Times who reports that homes sales in Southern California just hit a 9-year high.
In what continues to be a blistering pace, the median price of homes sold in July jumped 5.5% from a year earlier (the median sales price is the point at which half the home sales were higher and half lower).
Various explanations are offered, but high among them is the potential rate increase by Janet of the white hair. That said, she has yet to take her foot off of the brake that Bernanke put there in December 2008.
Nevertheless, concern that rates will rise has been a factor driving more home purchases.
If you want to make a move into real estate prior to a rate increase that most agree will come before year end, we are here to service any of your real estate needs.