Southern CA Market Update with Andrew Vargas, Facts over Fear

Nationally home prices have softened about 3.2% from the peak, back in June 2022. For the 10 to 20 city indexes, its down 4.6% from the peak. More than overall nation. That’s the latest data provided since last month. For a specific city and/or neighborhood, reach out to Andrew Vargas to provide you the statistics and analysis.

There is a lot of progress right now with mortgage rates improving. As of right now and probably the next few months CPI will probably come down a bit more. CPI for the month of December came in at 6.5% which is a major improvement from the 9% figure earlier last year. Inflation cooling as of lately has helped keep mortgage rates lower.

A flood of homes hasn’t hit the market because it’s said in CA, about 89% of homeowners who have a loan are enjoying a fixed rate at or below 5%.
Sources-
BlackKnight Inc., CoreLogic, FortuneMagazine with Lance Lambert, Yahoo News, Valutainment, Case Schiller Home Price Index, Beracha & Johnson Housing Market Ranking, Wall Street Journal, and @fullcountchannel

Andrew Vargas at Coldwell Banker Realty
CalRE # 01982874
Email: andrew@andrewvargas.com
Website: https://www.andrewvargas.com​
Cell: 424-253-4096 or 714-371-3692

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