“Our Downey Real Estate Outlook for 2019”

The question you have to be asking yourself is, “What’s going to happen to home values in 2019?”  Graph #1 to the left shows a BIG decline in values for the month of December 2018.  If you knew you could get more for your home now, than if you sold 2 years from now would that impact your decision on making a move today?  Downey holds its value far better than it’s surrounding cities as you can see from Graph #2.  The averages sales price for a Downey single family residence came in at $564,656 based on data from CRMLS stats.  

Here’s what industry experts are saying.  We know that interest rates will steadily rise in 2019.  Granted, they are much lower now than they were 10 years ago, and a buyer still experiences getting an amazing interest rate when purchasing a home in today’s market, but still, as interest rates continue higher, it may have an impact on home values.  Home values are expected to continue to rise but not at the levels they have been climbing for the past 6 years.  

If you’re considering selling your home, please call us!  We can guide you and give you the best possible advice for your particular situation in this changing market…