Despite Rising Interest Rates, The Real Estate Market Is Improving During The Holiday Season

As the holiday season arrives, real estate professionals are pleasantly surprised at the positive improvements to the real estate market. The distressed sales, the sales-to-list price ratio, time the house sits on the market and the purchase price figures all look great despite the rising rates in interest, according to DSNews.

Some regions are seeing the typical seasonal slowdown. Yet, overall, the market is performing well. In fact, sellers are getting their listing price and then some, as homes are selling at a higher percentage of their list price at a ratio of 97.5 percent.

Homes are selling quickly, only spending an average of 8.6 weeks on the market. For people who are interested in purchasing a home, they may want to jump in now before interest rates climb higher. For more news about the real estate market in Santa Barbara and the coastal Southern California area, please call Karen Spechler, your Santa Barbara real estate expert, at 805-563-7265. Contact me today!