Real Estate Market

Market Trends: February 2019

National Real Estate Overview

Note: December 2018 data below are the most recent released by the National Association of Realtors.

After two consecutive months of increases, existing-home sales declined in the month of December, according to the National Association of Realtors®. None of the four major U.S. regions saw a gain in sales activity last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) decreased 6.4 percent from November to a seasonally adjusted rate of 4.99 million in December. Sales are now down 10.3 percent from a year ago (5.56 million in December 2017).


National Association of Realtors December 2018 DataNAR's chief economist, Lawrence Yun says current housing numbers are partly a result of higher interest rates during much of 2018. “The housing market is obviously very sensitive to mortgage rates. Softer sales in December reflected consumer search processes and contract signing activity in previous months when mortgage rates were higher than today. Now, with mortgage rates lower, some revival in home sales is expected going into spring.”

The median existing-home price for all housing types in December was $253,600, up 2.9 percent from December 2017 ($246,500). December’s price increase marks the 82nd straight month of year-over-year gains.

Total housing inventory at the end of December decreased to 1.55 million, down from 1.74 million existing homes available for sale in November, but represents an increase from 1.46 million a year ago. Unsold inventory is at a 3.7-month supply at the current sales pace, down from 3.9 last month and up from 3.2 months a year ago.

Properties typically stayed on the market for 46 days in December, up from 42 days in November and 40 days a year ago. Thirty-nine percent of homes sold in December were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 4.64 percent in December from 4.87 percent in November. The average commitment rate for all of 2017 was 3.99 percent.

First-time buyers were responsible for 32 percent of sales in December, down from last month (33 percent), but the same as a year ago.

The Best Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today.

Take advantage of our experience! Contact us for a list of preferred mortgage professionals in our area -- pros we know will serve your interests well. Our experience can really help when it comes to finding the right mortgage professional and then getting the right mortgage for your situation.

 

Romantic Valentine's Day Dining Options in Whittier!

Looking for a romantic date night spot for this Valentine’s Day? There are so many incredible dining options throughout Los Angeles county. But, you don't need to travel out of our very own Whittier Area to find the perfect spot for you and your sweetheart this holiday! Here are our recommendations for the most romantic dining spots to bring your love on Valentine's Day!

 

‚ÄčThe Cat & The Custard Cup | 800 East Whittier Boulevard, La Habra | (562) 694-3812

--Romantic spot with locally sourced food and award winning wine list

Phlight | 6724 Bright Avenue, Whittier | (562) 789-0578

--Great wine selection with delicious tapas and mediterranean small plates

The Mission Square | 13033 Penn Street Suite 100, Whittier | (562) 458-5353

--Italian fine dining in intimate setting

The NIXON Steakhouse | 13033 Philadelphia Street, Whittier | (562) 698-3355

--Upscale steakhouse from Top Chef alum Katsuji Tanabe

Ravello Bar & Grill | 6746 Greenleaf Avenue, Whittier | (562) 945-8723

--Fine dining with industrial chic decor

Vintage Café & Martini Bar | 6741 Bright Avenue, Whittier | (562) 696-5050

--Warm and inviting atmosphere serving french cuisine


The Domis Team wishes everyone a very Happy Valentine’s Day! Follow us on Facebook for more great local information throughout the year!

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Contact Information

Photo of Linda & Ryan Domis - The Domis Team Real Estate
Linda & Ryan Domis - The Domis Team
Keller Williams
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
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Contact the Domis Team

Linda Domis - BRE #00571375 | Ryan Domis - BRE #01969771
Whittier Homes for Sale | La Habra Homes for Sale
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