Let's talk about this ... What is the single biggest issue causing interest rates to rise so dramatically in the last year? And with that answer, do you see the clue for why the market isn't behaving the way you think it might behave with interest rates going up?

0:01 Hey everybody, this is George Fotion, Call Realty, Best Palace, Verti's Homes. I'll try to make this real quick. Is there a correlation between interest rates and how the market performs?
0:11 I guess common sense, which maybe it is. I don't know. Let's look at the facts. Common sense would suggest if interest rates go up, the market's going to perform worse in terms of how the market absorbs inventory.
0:27 Less, fewer people can afford to buy. It's more expensive to buy. But is that correct? Well, in March of 2023, interest rates were around 5.5% or so, somewhere like that.
0:43 They're now at 6.25%, in some cases a little higher, in some cases a little lower. But what's happened to the absorption rate in Palos Verdes Estates between March of 2023 and March of 2024?
0:55 The market actually improved. It improved a lot. From a ratio of for every 10 new listings, 6 existing listings being sold.
1:04 To now, for every 10 new listings, 8 existing listings being sold. That's a huge improvement in the market. So, do interest rates really impact real estate?
1:18 don't know. are the facts. What do you think? Let's set up a meeting and talk about it. 424-722-9136. Alright, that's it.
1:37 Thanks for watching. Talk to you later. Bye.



https://www.palosverdeshomesbest.com/...












George Fotion, CalDRE#785373

Call Realty Best Palos Verdes Homes
433 Via Corta, Palos Verdes Estates, CA 90274
(424) 226-2147

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