Market Update July 2020

  • DeAnn Rochelle
  • 07/3/20
 
 
IT’S A HOT SELLERS MARKET! 
 
We are seeing multiple Offers, lots of Buyer demand from larger cities (NY, LA, SAN FRAN etc).
 
According to Mark Schneip, Californiaforecast.com 6/20:
 
Housing Marketing in the Central Coast:
 
*Home values have yet to show any clear adverse effects during the pandemic.
 
*Historically low mortgage rates and tight inventory are supporting home prices.
 
*New inventory was off 44% April, 23% May 2020
 
*Demand for housing may be impacted going forward.
 
*However, jobs held by typical buyers of homes in Santa Barbara have not been as impacted by layoffs.
 
For More in depth looks at our regional housing market update, please check out: https://www.car.org/marketdata/interactive/marketupdatevideos
 
 
 

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