Santa Clarita CA Market Update August 2013

Hello, everyone. I have with me the Time Magazine “Sky-High Housing: Buildings Up, Prices Up.” This is the magazine from September 1977, the year I started my career.

That title describes much of what is happening in our market now. We’ve had a great year and seen prices steadily increase. They're up 35 - 40%.

Interest rates have increased by about one percent in the past 90 days. It did slow the market a bit, but we are still experiencing a tremendous amount of activity.

Inventory has also consistently increased over the past few months, which gives buyers more of a selection. We are seeing some of the more desirable properties still receiving multiple offers.

If you are thinking about buying or selling, don’t wait. Interest rates may come down a little bit, but they won't drop below 4% again. If you're thinking about buying or selling a home now is the time!

Thanks for watching!