Palos Verdes Peninsula from top of Redondo Beach bluffs. Photo by Kit Wertz

A number of our South Bay Cities are among the most sought after places to purchase homes. Of the homes priced in and around one million, inventory increased 3.3% from last year, with homes priced above five million increasing 13.2% from the previous year. Luxury homes increased by 6% overall annually. *

Redondo Beach was named the number one place to live according to Travel Tips article “10 Best Places to Live in California.”

Federal Reserve Chair, Janet Yellen along with Fannie Mae Economist Doug Duncan predicted at the beginning of the year that they didn’t expect rates to increase if at all for 2016. The current forecast has the 30 year fixed rate ending the year at 3.7 percent. Some people are actually refinancing and taking cash out because rates have remained low.

Should your plans include real estate purchase and sales, please call or email with questions – and as always, thanks for your referrals! The Sotheby’s International Realty® network provides access to luxury real estate and homes for sale worldwide.

Sources: 

• CAR Newstand 
• Kelly Ramirez, HousingWire May 3, 2016 
• Scotsman Guide News