Real Estate Values:
CAR Reports Values Down In Sept
Rise In Prices Slows In September As Interest Rates Rise
The California Association of Realtors latest report on Home Values show that values in California Home Sales dropped in September to their lowest levels since February. However, they were still above September value levels for the same time period of last year.
Part of the drop in values could be traced to rising interest rates. However, it should be noted that this report was released in mid-October, and rates have fallen again siince that time.
September Home Sales & Price Report
http://www.car.org Thu, 17 Oct 2013 17:03:52 GMT
LOS ANGELES (Oct. 17) – California home sales declined for the second straight month in September, following rising interest rates and economic uncertainty, which put the demand for housing on hold for buyers. …
Rates Since Report May Signal Good Holiday Buying Season
As stated above, mortgage rates have fallen again since this report. In fact, today’s rate of aproximately 4.15% (30 year fixed) is lower than the 4.30% reported on Oct 1. This may signal two things: 1) An opportunity for buyers over the Holiday season; and, 2) a possible bottom to this value reversal we’ve seen over the last couple of months.