Leave a Message

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

Springing Ahead in the 2023 Real Estate Market

April 21, 2023

Springing Ahead in the 2023 Real Estate Market

Springing Ahead in the 2023 Real Estate Market

As we enter the Spring season of 2023, we wanted to provide you with an update on the current state of the real estate market. In recent months, we have seen a steady increase in demand for homes, resulting in a seller's market in many areas of Los Angeles and Orange County.

According to recent market reports, the housing inventory is expected to increase in the coming months, making this the perfect time for homeowners who are considering selling their property. With more homes available on the market, buyers will have more options to choose from, creating what we hope would be a more balanced market.

As we move into the warmer months, many buyers are eager to find a new home before the start of the new school year. This typically results in an increase in demand and competition, further emphasizing the current seller's market.

At Highland Premiere, we understand that selling a home can be a stressful and overwhelming process. Our team of experienced agents is here to guide you through every step of the way, ensuring a smooth and successful transaction. Whether you are looking to upgrade to a larger home, downsize to a smaller property, or relocate to a new area, we are here to help.

What We're Reading

Right now in the housing market, there are some important indicators that appear to be more favorable for buyers than they were earlier in the year. This includes home inventory and interest rates. Naturally, as we enter the spring season, the number of homes available for sale increases and the trend is for more listings to sprout as we get into the summer months.  When there is more inventory, then sellers often have to price their homes more attractively (price them lower) so that their listings can stand out from the competition and so they can sell quicker. Additionally, the mortgage interest rates have been steadily declining. Since March 9, when the rates were averaging 6.73% for average 30-year fixed, rates have fallen for 5 consecutive weeks and are currently at 6.27%. When you talk to your lender, you may find that you are able to get even better rates than that depending on the program, closing costs, and conforming vs. non-conforming loan amounts.

While interest rates were climbing up and running away at breakaway speed since the middle of last year, they reached a peak of 7.08% average in November. An article on CNN.com this week suggests that a rate of 5.5% may be the magic number to getting the housing market back to behaving crazy again. That is because more buyers will find the cost of borrowing money to be more and more affordable as rates continue to drop. At 5.5%, rates will feel more like the norm — it appears to be an acceptable rate, situated between the 7.08% peak rate of last year and the record-setting low rate of 2.65% during the midst of the pandemic (when the federal funds rate was at 0%).

Typically, as rates come down, then housing prices tend to go up. If we hit that pattern again, then it may be beneficial for active homebuyers to get ahead of the crowd and complete their home purchase before more and more homebuyers jump back into the market

Read Our April Newsletter Here

Recent Blog Posts

Stay up to date on the latest real estate trends.

Celebrating Mother's Day 2025 in Los Angeles: Top Activities and Restaurants

April 18, 2025

Mother's Day is fast approaching, and Los Angeles is brimming with fabulous ways to celebrate the incredible moms and mother-figures in our lives. Whether your mom ado… Read more

April 2025: Los Angeles Market Update

April 4, 2025

As we enter April 2025, the Los Angeles housing market continues to demonstrate resilience amid recent challenges. Sales activity has shown a modest increase, with the… Read more

Exploring Playa Vista: Los Angeles' Modern Urban Oasis

March 27, 2025

Nestled on the Westside of Los Angeles, Playa Vista has rapidly transformed from the historic grounds of Howard Hughes' aviation endeavors into a vibrant, tech-centric… Read more

Los Angeles Spring: Activities to Enjoy in Los Angeles 2025

March 20, 2025

Spring has finally arrived in Los Angeles, bringing with it beautiful weather and a plethora of outdoor activities to enjoy. Whether you're a local or just visiting, t… Read more

Los Angeles Wildfire Cleanup: Phase 1 Complete, Phase 2 Underway

March 9, 2025

The devastating January 2025 Eaton and Palisades wildfires, which scorched over 37,000 acres and destroyed thousands of homes, left many Los Angeles residents facing a… Read more

March 2025: Los Angeles Market Update

March 7, 2025

As we enter March, the Los Angeles real estate market continues to feel the impact of the devastating January wildfires, which have displaced thousands of residents an… Read more

February 2025: Los Angeles Market Update

February 11, 2025

As we enter February, we are mindful of the effects of the devastating January wildfires on our Los Angeles neighbors and communities. Members of the Los Angeles real … Read more

The Los Angeles Ultimate Valentine’s Day Guide

February 2, 2025

As our city rebuilds, this Valentine’s Day Weekend is the perfect opportunity to lean into the love with our partners, family and friends. Los Angeles is bursting with… Read more

Lunar New Year Events

January 23, 2025

As Los Angeles prepares to ring in the Lunar New Year, the festive spirit is tempered by the recent devastation caused by wildfires that have swept through our communi… Read more

Let's Talk

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