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Real Estate Economic update for September 2020 in US and Calabasas

Posted by David Salmanson on September 29, 2020
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Real Estate Economic update for the week ending September 26, 2020
Mortgage rates
The September 24, 2020, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 2.90%, unchanged from 2.87% last week. The 15-year fixed was 2.40%, unchanged from 2.37% last week. The 5-year ARM was 2.90%, down from 2.96% last week.
U.S. existing-home sales and prices soared in August
he National Association of Realtors reported that U.S. existing-home sales hit $6 million in August on a seasonally adjusted yearly basis. The number of homes sold in August was 10.5% higher than in August 2019. That marked the highest number of homes sold in a month since December 2006. Prices also surged. Nationally the median price paid for a home jumped 11.4% from one year ago.
Calabasas
Calabasas’ house price median was $1.45M this past month which is about 15.2% up from last year. Despite the COVID-19 obstacles and rules and regulations, the real estate market in Calabasas and Hidden Hills continues to thrive.
Here is a current Calabasas Real Estate Market Review with the Calabasas homes for sale review and recent sales history.

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If you are interested in selling your home in Calabasas or surrounding areas, please contact David Salmanson, your best Calabasas realtor at 818-421-2170

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