The low-interest rates are helping buyers and sellers to be prepared for the slowdown season. Many buyers have taken advantage of their new purchase power despite the competition which is due to low inventory.
Many homeowners with over 20% equity have refinanced to remodeled, paid debt, or simply have saved for the uncertain times ahead. Despite some signs of the economic downturn in LA, home’s price remains accelerating and the low inventory is perhaps another cause of this unbelievable phenomenon.
Investors, on the contrary, are holding off purchases due to the eviction moratoriums projected to be in place until February of 2021. If you are an investor, a first-time buyer, or a homeowner please be informed of what is happening right now. The Pandemic as we know is changing many aspects of our economy therefore it is a fact that whatever we do today will impact our kids and their children.