Before I begin this market update I would like to wish you a happy Father’s Day. I hope you’ll be able to enjoy the day and sit around a barbecue with all of your family - you deserve it!
Now - here’s what is happening with Burbank real estate:
- Interest rates have been on a roller coaster recently. They were at 4.5% a few weeks ago and then dropped down to 4.1%, and have now risen back to 4.25%. However, 4.25% is still a phenomenal interest rate.
- Inventory in Burbank has also risen slightly, but it’s nothing too significant. We still have less homes for sale now than we did last year.
Because most people like to move into homes in the summer, now is your chance to sell your Burbank home quickly and for top dollar. Decreased inventory will bolster your chances of selling and low interest rates will push buyers into purchasing while homes are still affordable.
If you need any assistance in buying or selling homes in the Burbank area, please do not hesitate to contact me.
Thanks for tuning in!