How Will the Rising Interest Rates Affect the West Los Angeles Real Estate Market?

As you may know, interest rates have been on the rise the last couple of months. While they are still at a phenomenal rate and historically low, we don’t know when they will increase again.

So, how do increasing rates affect you? The biggest impact is on buyers. Every point rate that increases, decreases buying power by $11,000. You are getting less house for your money.

It also, affects sellers. Because a buyer’s power decreases, fewer people will be able to afford your home. As a seller, you want to get as many potential buyers interested; this helps drive price up and get you the best terms and conditions.

So, if you are thinking of buying or selling, now is the time! Give me a call so I can help!

Thanks for watching!