SUMMER 2019: WESTSIDE LOS ANGELES HOME PRICE & MARKET TRENDS UPDATE
Rates from early Spring into May 2019 have come down since the earlier highest at the end of 2018 with 15 years as low as 4.43% as recently as March 23, 2019. As of Dec. 23, 2018, the interest rate for a 30-year fixed mortgage had jumped to 4.72, up from 4.55 percent in May 2018, and the highest since May 2011 (source: FreddieMac).
Additionally, the volume of home units sold nationwide declined sightly in the fourth quarter of 2018 by about 7%. Days on market for single family has increased to a national mean of between 45 to 57 days, a shift from 35 to 40 days on market back in May 2018.
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