November 2016 Sold Properties

| Sold Properties

November is officially over and the monthly sales have come in.  Month over month volume is down around 6%, however we are getting towards the end of the year where historically volume slows down. After the election interest rates for the 30 year mortgage went up approximately 3/8%.  Even though rates are still extremely low, buyers are calculating the difference in monthly payments from the previous lower rates and the current ones.  I don’t know if this will have a negative effect on prices, however I do know that inventory is still very low and there is more demand than supply.

I predict that December will also have a slight decrease in volume compared to November but prices should not move that much.  I hope that these statistics are helpful and I will continue sending them to you every month.  If you or someone you know is looking to buy or sell real estate, please let me know so I can provide them with excellent service and professionalism.

 

Regards,

Ronnen Haddad
BRE: 01930461
Keller Williams Santa Monica
Phone: (310) 905-7877
Email: ronnenhaddad@kw.com

 

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