Kirsten Wolfe and Mark Lomas 
Artist Morgana Welch Surging mortgage rates and still-high home prices are not leaving already demoralized home shoppers much to be thankful for these days. Nonetheless, the housing market remains competitive as demand continues to outpace supply. Would-be buyers with the stomach to stay in the market are gobbling up the limited inventory, especially new homes, as builders continue offering incentives to hopeful homeowners. Click Read More below for more information and video from Altos Research.
Navigating a changing real estate market As we head into 2023 the housing market finds itself at a turning point, hindered by a dramatic spike in mortgage rates that chilled the market. A storm was brewing as sellers came to terms with the fact that volatile mortgage rates were rising and pushing some buyers to the sidelines dampening demand for their homes. Yet supply is still tight and home prices went up faster throughout the year than many American incomes. The cooling housing market also leveled the playing field for all types of brokerages as change became the new normal.
Santas Barbara Real Estate What do Homeowners need to know about selling in today’s market? You’ve probably heard about the cooling of the housing market and you may be thinking of selling your home and wondering what that means for you. While it’s not at the same peak intensity we saw during the pandemic it’s still a seller’s market.
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570
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