Laguna Niguel Housing Market Tracking Tool
Have you ever wondered which way the housing market is going in Laguna Niguel, Dana Point, Aliso Viejo or Mission Viejo?
Now you can track the market fluctuations in any city for free. Of course the future is always unknown. This tracker goes back to 2001 and only projects out a few months in the future. When using this internet tool, from Weiss Index, the color scale goes from RED (negative) to Green (positive or increasing value) and neutral is white. It is fun to check out different zip codes.
Click on weissindex.com
Of course no one can truly predict the future and I don’t know the accuracy for each area, but for south Orange County housing in the last ten or so years this tool seems right on. From twenty years experience as a Realtor® I can tell you that when there is a dramatic increase in interest rates it always slows down sales for a time while the buyers rethink their position and buying power. Whether the prices drop inversely with the rise in interest rates, (which many buyers are convinced of) will depend on inventory levels and the general health of the job market.
If you are thinking of buying soon keep this in mind – that if you are payment driven, then figure that a 1% INCREASE in RATE will force you to buy a home that is 10% LESS than what you can afford today. Or you can put more money down to keep the payment the same. If you are planning on staying in your home for several years I would recommend buying now and locking in the current low rate for a long term.
Call the Ron Buck Group at Keller Williams Realty for expert buying or selling representation in south Orange County. Call or text 949-456-0505.
For a FREE COMPARATIVE MARKET ANALYSIS of your home, call today or click here!