The U.S. Real Estate Jigsaw Puzzle Gets Two New Pieces
Our Costa Mesa real estate market’s surges of activity are next to impossible to forecast with any degree of precision. Since intervening events can negate even the most well-grounded projections, it’s wise to keep in mind how tentative any reading of the underlying tea leaves can be. Even so, last week’s disclosures provided a high level of confidence that a market change could be on the way.
Two disparate pieces of the national real estate jigsaw puzzle from two trustworthy sources provided the clues. The two:
- From the Wall Street Journal, a finding that “The mood among sellers…shifted in recent weeks from apathy…to urgency.” Financial advisers and real estate agents are reporting that their clients are showing a new sense of readiness to list their properties. Friday’s edition provided one good reason. In a story headlined “Fed Official Favors Aggressive Rate Increases,” the takeaway was to expect a half-point (rather than quarter-point) Fed Funds rate increase. If area homeowners now expect a series of dramatic mortgage rate hikes, a decrease in the number of qualified buyers could also follow—pressuring more Costa Mesa sellers to list sooner rather than later.
- Last Thursday, word came of a new survey from realtor.com that could confirm the first piece of the puzzle. It would also remove one basis for the residential market’s continuing price rises: the inventory shortage. “Housing Inventory Turnaround Possible” published the results of a new survey of 3,000 respondents. In it, a surprising 64% said they intend to sell their properties this spring or summer. For a housing market that has long been starved for inventory, a slowing of asking price increases might be expected.
If the national picture holds true for our own Costa Mesa real estate market, a boost in the number of new listings should spur further interest from the area’s already well-motivated homebuyers. If you are feeling a similar urge to take advantage of this spring’s active market, step one is to 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
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