Even though the Costa Mesa housing market doesn’t precisely echo wider national moves, a connection between the two is only natural. There’s a psychological tendency to respect what authoritative sources avow—and most of the information about real estate that comes to our attention is national, not local. If the morning’s headlines include mention of the latest housing market leap or stumble, it registers. We may be perfectly aware that Costa Mesa’s residential results are apt to be their own thing, but we also know that our expectations (and our neighbors’) will tend to be colored by the zeitgeist as presented.

That’s why, despite its national nature, last week’s news about the U.S. housing market was positive for the Costa Mesa residential outlook. The gist of the wider narrative was that the U.S. housing market “might” (the italics were yahoo.com’s) “finally be nearing the bottom.” Since the opinion had been published by no less an authority than Goldman Sachs—and especially since Goldman had downgraded its widely heralded outlook only two weeks earlier—it did have more than the usual ring of credibility.

The previous downgrade had made a splash at the start of the new year. The paper titled “Getting Worse Before Getting Better” predicted home prices would fall as much as 10% by mid-year 2023—a good deal more negative than most real estate experts had predicted. Goldman quickly revised that to 6.1%, peak-to-trough, a call that may have been influenced by how out-of-step it had been with other financial seers.

But last week’s projection seemed formulated by new data. Fortune called it “a bold housing market call”—and yahoo.com agreed. Goldman now expects national home prices to end the year down just 2.6%. Considering the previous leaps in residential prices, that’s practically flatlining. Combined with the uptick in mortgage purchase applications (already 9% above the October slump), it could foreshadow a stronger market all around.

Our Costa Mesa housing market hasn’t nosedived or soared in response to Goldman’s jitterbugging expectations, but local future buyers and sellers exposed to the more optimistic forecasts probably took note. Exactly what the impending spring busy season will bring is a subject for speculation, but one thing is certain: canny buyers and sellers will make decisions weighted toward what the local results reveal.

Today, the latest actual results reflecting your segment of interest in the Costa Mesa market are readily available. Just give us a call!

We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976.  It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa  If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at info@thel3.com


The L3, L3 Real Estate, Costa Mesa Real Estate, Huntington Beach Real Estate, The Best Real Estate Company in Costa Mesa, The Best Real Estate Company in Huntington Beach, What is the best real estate company in Costa Mesa, tips, tricks, easiest way, most affordable, What is the best real estate company in Huntington beach, Costa Mesa, Huntington Beach

Posted by Matt Kanoudi on
Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.