Is This a Good Time to Buy or Sell?
Last week we discussed the effect of waiting for “the market to change” to make buying or selling decisions in real estate. We talked about the long term effects of our ever changing real estate market.
Let’s this week review the market from a more recent prospective.
1. First, let’s discuss affordability compared to last year. Remember, there are two significant factors that affect affordability: price and interest rate on your real estate loan.
During 2024, prices of homes actually increased 5% in Orange County. However, the monthly cost of owning that home actually went down about 0.7%. Not a lot, but certainly a reason for many more buyers to consider making a home purchase.
2. Now, let’s look at that longer term perspective. In the 5 years since the pandemic (yes it has been 5 years) the average value of Orange County homes increased a remarkable 113%!
The answer to the headline question-of course, if it makes sense for you. Do you need more home, or less home, are you leaving the area, are you retiring? There are any number of good reasons to buy or sell. The current market should not deter you from making that move.
Please contact us by phone or text, 949-500-6365, email Frank@FrankDiLauro.com, or our website, www.FrankDiLauro.com.
Thank you for your continued support of the DiLauro Team for over 45 years!
