It appears that we are heading for a Price Deceleration – when home prices continue to appreciate, but at a slower pace. So far, we haven’t seen any indication that price will go down, nor is there any bubble to be burst.
The reason is because inventory is still low – when supply is less than demand, price goes up. There are other minor underlying factors, but one that a lot of people fail to mention is rising construction costs.
If you are considering to buy but hesitate, here are some helpful guidelines for you:
💡 How stable is your job and income?
💡 Always buy within your means.
💡 Do you have specific need(s) eg. close to work, school district?
💡 How do you value your family and/or your personal enjoyment of living in your dream home?
💡 Every market is different, as minute as a certain area within a city. So don’t be bothered by the catchy headlines. Instead, talk to a local expert ie. seasoned real estate agent to find out how your local market is doing.
Remember, there are many benefits of owning a home. This price deceleration market may also make it easier for you as a buyer.
When you are ready to buy, particularly in Palos Verdes and South Bay, talk to your local partner – Stephen Haw – who can give you the best and most honest advice for your purchase. (310) 503-9886. DRE# 00808646. Keller Williams Palos Verdes Realty.
Call 310.503.9886 or email skh8828(at)gmail(dotted)com for professional guidance from The Stephen Haw Group, your local experts with international connections.