02/20/2025
📊 JANUARY MARKET UPDATE!
Resale Openings — As expected, January saw an increase in resale openings compared to December - Historically, we tend to see slower openings in the last month of the year with a push toward closing out deals for year-end.
Cancellation Rate — We did not see significant changes month over month, remaining within the normal range. If it ever rises above 30%, that’s when we’ll do some digging.
Interest Rates — They are what they are, but we’ll be watching closely to see if the Fed feels the pressure this year or if there’s any relief from persisting inflation. Stay tuned!
📊 County Stats:
New Listings — UP across all SoCal counties! Expect a positive trend into early summer.☀️
Inventory — Slightly lower month over month, which is unusual for this time of year. Inventory remains the key story in Real Estate.
Absorption (homes that came off the market) — Down in January compared to December, meaning fewer homes came off the market in January, aligning with seasonal trends.
As always reach out to your Escrow Rep if you or your clients would like market specific data provided by Altos!📲☺️
