SoCal’s Hot Housing Market Continues Into 2021

The real estate market in Southern California continues to stay strong. Today’s mortgage rates are at a record low and they offer the very best deal of the year. But as we move further into 2021 it’s uncertain how long these exceptional rates will continue. December 2020 statistics proved the current issue pertaining to extremely high demand and relatively low supply to be very true; these kinds of numbers are remarkably low for San Diego County. Statistically we are in a sellers market more than ever before!

Over the coming months, a congressional relief package, more positive vaccine news, positive jobs reports, and positive economic reports are expected.

“It will not be long before the 10-Year pops above 1%. As a result, expect mortgage rates to increase from today’s exceptional 2.7% level to 3.5% by the end of 2021” says Steven Thomas, PSIR Economist.

Don’t be caught on the sidelines. With rising rates and rising home values, the market will move quickly. The time for buyers to act is right now!

 

 

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