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How to eliminate PMI

by Harold Powell

Will Rising Interest Rates Affect the Market?

by Harold Powell

Lately, I have been hearing the same question: how will rising interest rates affect the market? Interest rates have crept up in the past 30 days from a little below 4% to about 4.5% now. Generally, in the short term, rising interest rates creates a sense of urgency for buyers.  They want to avoid the possibility of paying a higher interest rate. To begin to answer that question we should look at the months supply of inventory chart.

The months supply of inventory chart tells us how fast we would deplete the current inventory if nothing new came on the market. You can see here on the far right June 2013, we have just about  1 month supply of inventory.  2 years ago we had close to 6-7 months of inventory.  A normal market for Ventura County is between 4-6 months inventory.  So the question here is what is causing the imbalance? Is it the reduction in the number of homes coming on the market or is it the number of people buying ?  Watch the video to find out.

Displaying blog entries 1-2 of 2

Contact Information

Photo of Harold Powell Real Estate
Harold Powell
RE/MAX Gold Coast Realtors
5720 Ralston St. Ste. 100
Ventura CA 93003
(805) 339-3516