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Falling Mortgage Rates & The Rise of Spec Homes

Falling Mortgage Rates & The Rise of Spec Homes


Home sales in July climbed 1.9% from last year which was the first increase in twelve months. Since Then, There has been about a 50/50 split in listings selling over asking and vice versa. The spike in home sales could be attributed to the slow decline in mortgage rates, moderating prices in inventory, or even the fact that there was an extra business day during the month of July. Sales have since declined 10% each month which is great for buyers and investors looking to purchase in the current market.

August 2019 Mortgage Rates: 3.55% down from 4.94% in November 2018

LA County Average Home Price: $635,000

The 8th Wonder of the World | 924 Bel Air Rd. The 8th Wonder of the World | 924 Bel Air Rd.
$150,000,000
Sedrick Benton Sedrick Benton
Luxury Estates Specialist

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