Instead of trying to “time” the market – just be patient.
Over the next few years, Goldman Sachs projects that national home price growth will align with its historical average, which has been +4.7% per year since 1975. However, Moody’s anticipates a period of sideways movement.
The recent pandemic housing boom and mortgage rate shock have stretched affordability relative to income. Moody’s and similar groups suggest that this affordability pressure could constrain short-term home price growth. Meanwhile, analysts at Goldman Sachs believe that the lack of supply will outweigh affordability concerns, pushing national home prices slightly higher over the next few years.
Trying to time the market is always tricky, but patience pays off. California stands out as a great investment as well as a great place to live, ranking number 2 in the US for home price appreciation over 5-year and 10-year periods.
What Happened in Montecito Last Week?
June 30th – July 6th
7 New Listings
2 Closed Sales
2 Pending Sales
weekly spotlight
Property Story & Spotlight Architect
Spanning 44+ acres of untouched beauty, overlooking Rincon Point ”the Queen of the Coast”, this private, gated parcel is at the border of Santa Barbara and Ventura offering a rare opportunity to create a personal paradise in this legendary location.
