Low Supply as Interest Rates Rise



The HOP (Home Ownership Podcast) Episode 111: Hosted by David Charles Allen of Village Properties. As so often happens this time of the year, Santa Barbara has had a heat wave and one day last week it even made it up to the triple digits!! This has caused the ocean water to warm up and there’s been a bit of a south swell–as Santa Barbaran’s enjoy swimming in the ocean. Interest rates last week rose to 5% for jumbo loans and 5.75% for 30-year conforming loans. Last week, there were 24 new listings, 12 price changes, 31 closings, 18 pending, 12 expired listings and 4 coming soon. With the inventory so low, it can be tough for people looking for a property in Santa Barbara. For more information about real estate in Santa Barbara, email david@davidcharlesallen.com or call David at 805-617-9311.

Check out this episode!

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