Kenny Slaught On Low Rates Inside California’s Hot Market

Those who want to buy a house on the West Coast must pay a very high price, even when choosing less modern properties. The values of the houses have been increasing continuously since 2008. Kenny Slaught uses the Standard & Poor’s Case-Shiller home price index to disclose that when analyzing the evolution of the market since 2007, last April market the highest price point. This is not all since in the largest metropolitan areas of Southern California, these numbers are very close to their peaks from before the recession. Of course, there are several factors at play, and Slaught points them out. For instance, the rates for mortgages done for 30 years were maintained under 3.5%, with the lowest one being registered in November 2012, at 3.31%. He continues to say that these numbers were very attractive for most, determining them to buy. Additionally, in Los Angeles County, 2.4% more people found employment, while the rate in Orange County was 3.5%. Of course, home prices vary considerably throughout the state, but the high-end homes are more expensive than everywhere in the country, except Hawaii. In California, the supply is not enough to satisfy the demand on this market, leading a considerable amount of people to opt for condominiums since they’re easier to find and more accessible financially.