Vineet Puri, Real Estate Pro in Westlake Village, CA

Why 2014 Summer Slow? Economy is doing better, then why the housing market is not moving fast enough?

Asked by Vineet Puri, Westlake Village, CA Wed Jul 30, 2014

Rents are on their way up, & yet Summer is the best time to move. So why is that this Summer is not better than 2013 Summer? Am I feeling the Heat or is it just a slow period?

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There isn't a lot of confidence in the economy and buyers and lenders are picky. Rising interest rates will hurt the economy and reduce the amount of qualified buyers. Prices have come up, and with a lot of inventory out there, sellers should either make sure their homes are updated and immaculate, or competitively priced. But I think most of us are feeling the heat - and that's why transaction levels are comparable to last summer but inventories are much higher.
1 vote Thank Flag Link Sat Aug 9, 2014
I think you are right, &, it's taking longer to close the Sale, too.
Flag Tue Aug 12, 2014
These are tough questions to answer. Interest rates are up and it's incredibly difficult to qualify for a mortgage these days. 2013 was a year of rapid growth, it seems things are just leveling off. In my community, inventory is up, and interest rates are creeping upwards, as well.

If you figure it out, please share!!!
1 vote Thank Flag Link Wed Jul 30, 2014
Thank you Cindy, that helps to understand.
Flag Wed Jul 30, 2014
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