In Yorba Linda, the real estate market — like the weather — is always sunny and warm. We are lucky in Southern California to enjoy a home sales market that remains strong when other areas falter. But like any aspect of the economy, real estate trends come and go.
The Edie Israel Team takes pride in being on the forefront of real estate trends, allowing us to leverage these influential factors for the benefit and protection of our clients. We have identified three of the most important trends to watch this year, and we think you’ll agree that it's going to be a very exciting year in Yorba Linda.
Trend No. 1: Value Growth in Downsized and Urban-Themed Residences
Today’s Yorba Linda real estate buyers, like their counterparts in other areas of Southern California, want to downsize. The biggest value growth is expected in small, single-family homes.
Buyers will continue to be lured by a more urban style of living as well. Today, however, this refers more to the style of housing than the location of the property. Loft living sells well in almost any location, as do brownstones or row houses.
Buyers don’t necessarily want to live in the inner city, they just want their homes to have that look and feel.
Trend No. 2: Interest Rate Fluctuation in Real Estate Lending
We anticipate a roller-coaster ride for interest rates over the coming year. Recent changes in the U.S. political climate have created a love-hate relationship with the financial markets. In fact, we’ve already seen rates fluctuate several times in the first quarter of 2017.
Generally, however, we expect mortgage interest rates to continue their gradual incline over the coming months. So if you plan to buy or sell your Yorba Linda home in the next few months, we encourage you to act on that plan as soon as possible to beat the coming rate increases.
One bit of good news on this front, however, is that mortgage lenders continue to free up more credit, allowing more buyers to enter the real estate market.
Trend No. 3: New Homes and Medium-Sized Cities
We expect Yorba Linda to become even more of a sweet spot for home sales in the next few years. Medium-sized cities like ours have become more of a draw for homeowners, as they abandon the craziness of larger metro areas. A major factor driving this trend is the availability of new homes.
Yorba Linda offers a vibrant employment base today, allowing residents to ditch the hours-long commute and work close to home. And since we still have plenty of open land in this area of Southern California, new home builders can continue to offer the style of living that attracts buyers from all over the country.
To learn more about how changes in the Southern California real estate market may affect you, contact the Edie Israel Team today. Our experienced team of professional Realtors® specializes in providing exceptional service to our clients and assisting them through the complex process of buying or selling a home.
This year, trust the Israel Team to help you with all your Yorba Linda real estate needs.