Lowest Interest Rates in 40 years and Inventory Continues to Stabilize Values

The big news for September were the historically low interest rates, they went below 3% to 2.88% on average, decreasing year over year by 25%. Plus continued low inventory equals stable median prices for the four submarkets tracked: Burbank, North Hollywood, Studio City and Woodland Hills. All 4 markets kept on track and exceeded last years values from 3-6%. So you are paying less today on your monthly mortgage than you were if you bought the house last year due to the incredible interest rates. No wonder we are seeing stable prices, it makes sense to a lot of buyers to move forward with purchasing a home.