Costa Mesa Home Sales Amid a Mixed Bag of U.S. Returns
A brief review of the national picture is more encouraging for Costa Mesa home sales than has often been the case of late—but is also a bit of a mixed bag:
- Existing home sales reversed a 12-month decline by rising a strong 14.5% in February, which marks the largest increase since mid-summer of 2020.
- The National Association of Realtors® announced a housing inventory of 980,000 units at the end of February, which amounts to a hefty 15.3% rise from the previous year. Even so, overall the housing supply shortage remains a significant factor for Costa Mesa home seekers.
- Median existing-home prices (all housing types) were essentially flat: the $363,000 figure was down .2% from the previous year. The data from March may reverse that.
- Although the spring home buying season started early this year, since fewer home buyers were out looking than had been true over the previous two years, the continuing lack of inventory meant many still faced what Zillow.com called “stiff competition.”
- The first week of every month supplies a number of important economic indicators—and last week’s scattered showings led to a drop in the nation’s average 30-year mortgage rates. Mortgage News Daily found that the average lender “made it down to the lowest fixed rates since early February.” A slight bounce on Friday didn’t go far in undoing the welcome news.
The latest Costa Mesa listings include unique opportunities for this spring’s buyers. Call us for a compilation of those that best fit the features you are looking for—as well as a professional reading of their competitive position in this April’s Costa Mesa market!
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
