Costa Mesa Still Showing Small Uptick
Interest rates appear to have stabilized in the lower 4% range now that the Fed has decided against raising rates again, and that appears to be positive for Costa Mesa real estate. Home sales are predicted to be up 1.9% according to Zillow’s recent data report. I would say that should be accurate based on early spring sales which are keeping pace with last year’s sales currently.
The current lack of inventory in the lower end of the market (sub $1,000,000) could put a drag on things though – not enough housing inventory in our entry level price tracks will slow down would be purchases. You can see from Zillow’s numbers for Costa Mesa real estate in the 92626 zip code that 23 recent sales of the approximately 89 on the market leads to only a 3 month supply of inventory – that would still be considered to be a Seller’s Market.
March and April are here – these are normally the two hottest selling months in Costa Mesa real estate, especially in the 92626 zip code.
Should be interesting to see if we get the inventory bump that we need!!
Need help selling or buying in Costa Mesa 92626? Call Broker Colin Delaney at 714.743.9882 or email him for help or questions.