While the January and February housing market reflected a familiar winter slowness, that could be on its way out. Realtors say people are beginning to prep their properties for the market and holding open houses, while mortgage advisors believe interest rates will continue to drop throughout 2024.
Santa Cruz County housing market updates
Posted inHousing & Development
Housing market picks up slightly in October after slow start to fall season
Santa Cruz County’s housing market picked up slightly in October despite a slow start to the often-busy fall season, but very high interest rates remain the driving force of low inventory and slow sales. Real estate agents still believe rates will fall within the next year or so, but there’s no certainty about when that might be.
Posted inHousing & Development
Santa Cruz County housing market slows amid skyrocketing mortgage rates
Mortgage rates reached a new high in early October, leading to a slow start for the housing market’s typically busy fall season. Some buyers have pulled back, while others are paying below asking price, opening the door for some who have been beaten out by cash buyers in recent years.