6 min
August 2020 Southern California Real Estate Market Update Nahed Benyamein's Estate of Grace
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- Tutoriales
This is your August Southern California Real Estate Market Update and the hottest topic this month is…
FORECLOSURES!
Many people are projecting for us to see foreclosures everywhere just like we did in 2008. I want to show you why many experts do not believe that this will be the case. According to the company Black Knight, of all the active forbearances which are past due, 77% of them have at least 20% equity in their home! That is the opposite of what the market was like in the crash of 2008 because at that time many people had no skin in the game because they had none of their own money in their house! Another thing that we will discuss is…
HOME SALES!
Did you know that more than 370,000 homes were sold in the month of June! That is a boat load of homes! In fact, according to the California Association of Realtors, more than 330,000 single family homes were sold in June. That is 42% higher than the amount of homes sold in May! C.A.R also reported that June recorded a record high medium home price of over $626,000! That is 6.5 % higher than home prices in May! We will also discuss…
MORTGAGE APPLICATIONS!
Mortgage applications have hit an 11 year high! According to Freddie Mac, mortgage rates were on average 3.16% in the month of June. That is showing in the amount of offers home are receiving! I hope you enjoyed this August 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!
Please let me know what your thoughts are: What are your predictions for the housing market in 2020? After listening to this podcast has your forecast changed or do you think buying/selling now is a good time?
This is your August Southern California Real Estate Market Update and the hottest topic this month is…
FORECLOSURES!
Many people are projecting for us to see foreclosures everywhere just like we did in 2008. I want to show you why many experts do not believe that this will be the case. According to the company Black Knight, of all the active forbearances which are past due, 77% of them have at least 20% equity in their home! That is the opposite of what the market was like in the crash of 2008 because at that time many people had no skin in the game because they had none of their own money in their house! Another thing that we will discuss is…
HOME SALES!
Did you know that more than 370,000 homes were sold in the month of June! That is a boat load of homes! In fact, according to the California Association of Realtors, more than 330,000 single family homes were sold in June. That is 42% higher than the amount of homes sold in May! C.A.R also reported that June recorded a record high medium home price of over $626,000! That is 6.5 % higher than home prices in May! We will also discuss…
MORTGAGE APPLICATIONS!
Mortgage applications have hit an 11 year high! According to Freddie Mac, mortgage rates were on average 3.16% in the month of June. That is showing in the amount of offers home are receiving! I hope you enjoyed this August 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!
Please let me know what your thoughts are: What are your predictions for the housing market in 2020? After listening to this podcast has your forecast changed or do you think buying/selling now is a good time?
6 min