The BHAUS EIGHT December 2023 Newsletter

Hello community,

We can’t believe the end of the year is upon us! From all the gifts we may receive this season, one of the ones we are most grateful for is our community. Our clients and friends who put their trust in us, and our Bhaus Eight team, who makes every day a great one filled with excitement, laughs, and true caring for one another. So THANK YOU to our community, we wish you a beautiful time with your loved ones.

Here is to an amazing 2024!

In this month’s newsletter…

• BHAUS EIGHT Properties showcases our new listings across our markets

• The Southbay Real Estate section has the latest local stats and trends, giving you all the info needed to get your home on the market

• Home Stats by City

• The Economy & Mortgage News has the latest updates on inflation, consumer spending, and up-to-date mortgage rates.

  Have you followed us yet? make sure you are following us on Instagram and/or Facebook to get updates that are not sent to our mailing list! These updates include Open Houses, quick stats, inspiration for your home and your travels, as well as our exciting house viewings!

This newsletter photography inspiration: Bavaria, Germany, thinking of all the Christmas markets that are now open!

SouthBay Real Estate.

The Southbay Real Estate had a slight increase across all property types last month, with an average price of $1.4MM (+12.5% vs last year), and the median price was at $950K (+5% vs last year).

While New listings were down -10%, Closed sales were only slightly down by -2% vs same time last year. Given the continued low inventory, homes on the market are a hot commodity, Days on Market were also down -7%.

From the Southbay cities we report on, those located in the Palos Verdes Peninsula had big increases in median price, as well as Redondo Beach, Carson, and Gardena.

See below for more stats.

Home Stats by City.

Economy & Mortgage News.

Great news on the economy and mortgage fronts. Price growth has been slowing down, and inflation fell more than expected, prompting investors expectations of rate cuts in the coming year. Mortgage rates have been dipping in the last 6 weeks, hence analysts believe we may have seen the peak of those rates, and expect more decline in the coming weeks.

Overall the economy shows signs of relief, with most believing the worst is over as far as inflation goes, according to C.A.R. research. Energy prices have eased, the jobs report came stronger than expected and unemployment rate fell by 0.2% to 3.7%.

In the home mortgage world, rates have fallen for the sixth week straight. A conforming 30-year fixed rage is at roughly 6.125% and an APR of 6.328%, with more cuts possibly coming in 2024.

We are signing off for now, see you all in 2024! Happy New Year!

Contact your BHAUS EIGHT team with any comments or questions!

To subscribe to our weekly emails of investor opportunities and our digital newsletter, please email Sonia directly at Sonia@bhauseight.com

From BHAUS to yours.