Leave a Message

Thank you for your message. We will be in touch with you shortly.

Gearing Up for the Start of Summer

May 18, 2023

 Gearing Up for the Start of Summer

Gearing Up for the Start of Summer

The recent rate hikes by the Federal Reserve have had a noticeable impact on mortgage rates. As interest rates rise, mortgage rates tend to follow suit, making it more expensive for homebuyers to finance their purchases.

Unfortunately, mortgage rates have more than doubled since the Federal Reserve first raised interest rates more than a year ago to tame inflation, but that did not stop the Fed from raising the interest rate again two weeks ago. In fact, the latest quarter percentage point hike took the Fed-funds rate to a target range of 5%- 5.25%, its highest since 2007 causing yet again an uptick in mortgage rates. Despite rate changes however, we have surprisingly noticed that it has yet to make a significant impact on demand in the Los Angeles and Orange County Housing Market. In fact, homes are still fetching multiple offers with quick closes, many of which are less than 30 days.

Despite rate hikes and market volatility, our team is consistently closing transactions very quickly in a range of price points. As we approach the summer months, our team is preparing for a busy season of showcasing some amazing properties. For all your real estate needs or questions, we are here to serve you.

Why Is It So Hard To Buy A House?

The laws of supply and demand play a major factor in the real estate market. Right now there is a substantially low amount of housing inventory available. Fewer and fewer homeowners are electing to sell their homes. One of the major reasons for this is because a majority of homeowners refinanced and locked into historically low mortgage rates during the last 3 years. For someone to sell their home, they are looking at giving up their ultra-low mortgage rate and having to spend a lot more money on their replacement home.

The good news is that mortgage rates appear to have peaked (in November of 2022). They have dropped during 7 of the last 9 weeks, from 6.73% in March down to 6.35% this past week. Also, as we move into the summer months, more owners will naturally be selling their homes since it is easier logistically once the school year is over. More families typically put their homes on the market during June, July and August; additionally, there will always be residents moving out of state — to be closer to family, for job relocations, retirement, downsizing and/or tax benefits.

While there are fewer listings currently than in previous years (see this Real Trends article "From ice bath to blood bath: California struggles with inventory"), we have been helping a lot of buyers this year find and settle into new homes.  A good percentage of our transactions are happening off-market and are a result of our large network of homeowners and our close relationships with other agents. If you have a specific need and location, let us know how we can help you to find your perfect home before others catch wind of it!

Read Our May Newsletter Here

Recent Blog Posts

Stay up to date on the latest real estate trends.

A Local’s Guide to Weekends in Culver City

February 13, 2026

Weekends in Culver City move at a noticeably different pace than much of Los Angeles. While the city sits in the middle of one of the busiest metro areas in the countr… Read more

Parks and Green Space in Playa Vista: How Open Space Shapes Daily Living

February 11, 2026

Access to green space is one of the most significant factors influencing neighborhood livability. In dense urban environments like Los Angeles, the availability, distr… Read more

February 2026: Los Angeles Market Update

February 10, 2026

As February unfolds, the market is settling into its post-holiday rhythm. Per the MLS, January reflected a natural pause following the year-end season in Los Angeles. … Read more

How Culver City Balances Growth While Preserving Its Local Character

February 4, 2026

As Los Angeles continues to grow, Culver City stands out for managing change thoughtfully. Development here tends to enhance daily life rather than overwhelm it, prese… Read more

Why Families Choose Playa Vista: Overview of Community Design and Resources

February 3, 2026

When families evaluate neighborhoods, their priorities often differ from those of individual buyers or renters. Factors such as school access, safety, outdoor space, a… Read more

Living in Culver City Without the Commute Stress: Location, Transit, and Everyday Access

January 29, 2026

Commuting is one of the biggest quality-of-life factors in Los Angeles, and Culver City offers a rare advantage: central access without constant congestion. Its locati… Read more

Living Where Everything Is Walkable: A Day in the Life of Playa Vista

January 28, 2026

Walkability has become one of the most important factors in how people evaluate neighborhoods, particularly in major metropolitan areas like Los Angeles. Playa Vista i… Read more

A Local’s Guide to Culver City’s Dining Scene: Cafés, Neighborhood Favorites, and Destination Restaurants

January 21, 2026

Culver City’s dining scene mirrors the character of the neighborhood itself: diverse, creative, and deeply local. Rather than relying solely on trend-driven concepts, … Read more

10 Reasons Everyone’s Moving to Playa Vista

January 20, 2026

Playa Vista is no longer LA’s best-kept secret — it’s one of its most coveted communities. Tucked between Marina del Rey and Culver City, it offers the perfect middle … Read more

Let's Talk

You’ve got questions and we can’t wait to answer them.