This year in real estate for our 91506 zip code was great for all of us. The great news is that home values went up compared to last year when you consider the Average Home Price Sales which were up 10% from 2014. In 2015 there were 151 homes that sold in 91506. This is 11% more than the previous year. This tells us that the inventory was up slightly so the number of days on the market have also gone up by 20%. Basically more inventory means more competition, giving buyers more choices. The increase in days on market are most likely due to several factors including more homes on the market and sellers/agents over pricing. So far the increase in interest rates by the Fed has not had an effect on the mortgage rates. They are still hovering around 4% as they have been for the past year. All indications are that the mortgage rates will deliberately and slowly increase through ought the year. This could mean that buyers are going to be more aggressive paying more for a home earlier in the year to lock in the lower rates saving them thousands in the long run.

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