November 2020 Southern California Real Estate Market Update Nahed Benyamein's Estate of Grace

This is your November Southern California Real Estate Market Update and the hottest topic this month is…

HOUSING MARKET RECOVERY INDEX!

Recovery is based on demand, supply, price and time on market. When Covid struck our country in March, our index was just above 106. We take a sharp dive to 83 points in May and have been climbing up ever since. In fact, the US real estate housing market has officially passed pre Covid levels.

Another thing that we will discuss is…

UNEMPLOYMENT!

According to the Bureau of Labor Statistics, unemployment has continued to go down and as of September unemployment has fallen to 7.9%.

We will also discuss…

FORECLOSURES

As of the end of September, the US had roughly 3.59 million active forbearances. That is roughly 100,000 less than the week prior and it has been dropping consistently since May.

I hope you enjoyed your November 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!

Lastly, we explore…

PRICES AND INVENTORY

Today, across the country we have less than 6 months inventory and in many Southern California counties our inventory sits at just around 2 months.

Please let me know what your thoughts below: What are your predictions for the housing market in 2020? After watching this video has your forecast changed or do you think buying/selling now is a good time?

As always thank you for listening and please like, share and subscribe!