Rancho Cucamonga Real Estate Market Update

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Today, we'll discuss current market conditions. A lot of people have been asking, "Is today's market a buyer's or seller's market?" The answer really depends on what price range you're looking in.

For homes below $417,000, the market is a seller's market with a strong demand for homes. For homes priced $700,000 and up, it is more of a buyer's market. That's due to the difficulties of obtaining financing in that particular price range.

Mortgage rates are very good right now, ranging between 3.75% to 4% for a 30-year fixed loan. Overall, market values have increased by about 10% year-over-year for this particular month.

But where are they going from here? It is expected that the Fed will increase interest rates by about a quarter of a percent. That is a small amount, and should not have a significant impact on the overall values of homes.

Overall, it's a good time to buy. If you have any more questions, give me a call or send me an email. I look forward to hearing from you!