This is Christian Walsh of Wire Associates. I've found his videos to be a good, solid look at Southern California real estate trends. He's not crazy and flashy, he comes across as kind of your next door neighbor type guy, and he shows actual data, and he displays 5 year trend lines to put it in perspective, and gives a solid report of Los Angeles, Orange, Riverside, San Bernadino, Ventura, and now San Diego Counties.
If you're old enough to remember pre-internet days, you know SoCal real estate doesn't move in slow rolling waves, it tends to go up strong, and fall fast when it does fall. It also tends to lead national trends, so even if you're not in SoCal, this video may be worth watching. Here are the basic trends going into August 2021:
-We're getting back to a more normal set of trendlines. Last year, 2020, with the pandemic, was nuts. No one could buy real estate last Spring and early Summer, then FOMO craziness took over, fueled by massive amounts of new money from The Fed (Federal Reserve). So things appear to be calming down, and getting back to the kind of general trend lines people expect, after the 2020 insanity.
-The housing markets are still strong, generally, and prices have jumped double digits in the last year, in most cases and places here
-L.A. and Orange County single family/condo prices have dipped slightly. This is a good sign, since affordability has become a much bigger issue with the crazy 2020 surge in sales and prices.
-The eviction moratorium is still in effect here in California, as Covid surge #4 is growing across the nation. So for the next 3-4 months, there won't be a massive wave of evictions, foreclosures, or new properties coming on the market. Plain and simple, things are much closer to "normal" than they've been in 12-15 months, and we have time before mass evictions and foreclosures become the main issue to focus on.
I recommend watching this video, Christian is a straight shooter, and uses his real estate experience to analyze the current trends, wherever they may be headed.
Disclaimer: I am not a real estate agent, broker, or other professional. I'm a blogger/writer/artist with a geeky fascination with future trends and forecasting. This info if for education and entretainment purposes only. Consult real estate professionals and do the proper due diligence before making any decisions or investments.
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