A couple of reports released recently offer a promising outlook for the California housing market in the medium and long term. The anticipated increase in the statewide population in the coming years and a strong desire for many renters to buy in the near future are encouraging news that should help push housing demand to a higher level in the next few years. On the other hand, elevated interest rates in recent weeks and the lack of supply continue to present challenges for buyers in the near term, resulting in slow home sales activity so far in the spring / summer homebuying season. Home buyers have been gradually adjusting to the new normal though, despite being in an environment where rates stay higher for longer. Solid new home sales suggest that homebuyers still want to buy if they can find a way to get back into the market. With the improvement in housing supply conditions expected to continue throughout the summer and rates projected to moderate more consistently in the second half of the year, more buyers should reenter the market in the later part of the homebuying season.

California’s population grows in 2023 after three years of decline: California experienced positive population growth for the first time in four years in 2023. With foreign legal immigration continuing to bounce back from the pandemic era, and net domestic migration slowing down in 2023, the statewide population increased at an annual rate of 0.17% to 39.13 million last year. Across the state, 31 counties increased in population, with positive growth largely in the Bay Area, Central Valley, and the Inland Empire. Along with the increase in population, California also added more housing units in 2023. The statewide housing growth improved to 0.79% last year, as 115,933 units on net were built, including 22,802 accessory dwelling units. As the remote working trend continues to stabilize and net domestic migration recedes to the lowest levels of the 2010s, California population is expected to increase further at a slow pace in the near future.    

Prospective homebuyers plan to buy but lack confidence to start the journey: Renters are unsure whether now is the right time to buy but many plan to buy in the next five years, according to the newest Bank of America Homebuyer Insights Report. With interest rates and home prices remaining elevated while the homebuying market continues to be highly competitive, 57% of the renters/prospective buyers who responded to the survey are unsure whether now is a good time to buy. Despite the high level of uncertainty, 81% of the prospective buyers consider renting as a temporary arrangement and 76% plan to buy a home within the next five years. Many of them, however, lack the confidence needed to navigate through the homebuying process. Half of them (51%), for example, are not confident in their understanding of homebuying grant programs, while 41% do not have a good understanding of how to finance or secure a mortgage. With lots of challenges and “noise” in the market, trusted advisors like REALTORS® are needed more than ever to guide consumers through their homebuying journey. 

Mortgage rates rose this past week: The average rate on a 30-year mortgage moved back above 7% this week, a setback for home shoppers at a time when the U.S. housing market is already slowing under the strain of elevated home loan borrowing costs and rising prices. According to data from Freddie Mac, the average 30 year mortgage rate rose to 7.03% from 6.94% last week. A year ago, the rate averaged 6.79%.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

Looking To Sell A Property That Needs Some Work?

Save The Time & Hassle With Our Listing Concierge!

Does your property need some TLC or would having some improvements help you fetch top dollar? With our new listing concierge service we will coordinate getting your home all fixed up and ready to sell. We will manage the entire process of getting your home ready and all decked out with the latest trends, designs and materials. Our contractors are all licensed, bonded, and insured and do excellent work. Best of all, there is no money due up front. This saves you the time and expense of interviewing contractors, managing the work, and all the headache that goes along with fixing up a property. This enables our clients to position their property as "move in ready" to capture maximum buyer interest.

When we renovate homes, our clients receive on average a 150% return on investment!

We have negotiated great terms with our contractors and they don't get paid until the work is done and the home is sold.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Mortgage rates moderated further last week before inching up in the past couple days, as latest economic reports suggest that consumer inflation resumed its downward trend, while retail spending cooled more than expected. It will take more than just a couple reports to justify rate cuts for the Fed, but the new numbers offer hope that the central bank could still lower rates in their upcoming July or September meeting. The California housing market, meanwhile, kicked off the spring homebuying season with an encouraging start. April home sales at the state level improved moderately from last month and were up from the same month of last year, while the statewide median price soared to the highest level on record. Housing supply continued to improve, with new active listings surging by double-digits from a year ago for the fourth consecutive month.

April Consumer Price Index offers hope for Fed rate cut: The latest inflation report on consumer prices suggests that overall price growth eased slightly in April, with core inflation dropping to the lowest level in three years. The headline Consumer Price Index (CPI) rose 0.3% month-to-month in April and was above the 12-month ago level by 3.4%. Shelter costs remained one of the major driving forces that fueled the increase in the headline CPI number, but flat food prices helped partially offset the climb in prices at the gas pump. The core CPI was up 3.6% year-over-year and recorded the slowest growth pace in three years. Results are mostly in line with expectations and the slight ease in inflation offers hope that the Fed’s rate-cut is still on the table. 

Softer than expected retail sales suggest spending fatigue: American shoppers spent less than expected at the start of the second quarter, with retail sales in April unchanged month-over-month but increased 3.0% year-over-year. The flat monthly sales growth pace was a marked deceleration from the 0.6% increase posted in March and was sharply below the census expectations of 0.4% increase. Easter falling in March and the Amazon’s Spring Sales Event in late Q1 2023 probably pulled some sales forward, as online spending dropped 1.2% in April from the prior month. While the latest slowdown in retail sales may suggest inflation and high interest rates are finally curbing consumer spending, we will need a few more months of data to show that a meaningful and consistent downshift in spending activity is indeed underway. 

Home sales bounce back in April: The California housing market bounced back in April after losing some of its momentum in March. Sales of existing single-family homes in California inched up and totaled 275,540 in April 2024, an increase of 3.0% from 267,470 in March and a jump of 4.4% from 263,960 in April 2023. The statewide pending sales, on the other hand, fell below last year’s level by 4.0% as mortgage rates climbed steadily throughout the month of April. The dip in open-escrow sales last month suggests that closed sales in May will likely slow month-over-month and year-over-year. With rates cooling off since the start of this month, however, more buyers could reenter the market in the coming weeks as the market moves further into the homebuying season. 

California median price set a new record high: The statewide median price recorded another strong year-over-year gain in April. The median price of existing single-family homes in California reached a new all-time high of $904,210, an increase of 5.8% from March and a surge of 11.4% from the $811,510 in April 2023. The robust year-over-year growth was the tenth straight month of annual price increase for the Golden State and was the highest since March 2022. It was the first time in California history that the statewide median price exceeded $900,000. More new records will likely be set before the end of the summer though, as seasonal factors and tight inventory conditions will continue to put upward pressure on prices in the coming months.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

Looking To Sell A Property That Needs Some Work?

Save The Time & Hassle With Our Listing Concierge!

Does your property need some TLC or would having some improvements help you fetch top dollar? With our new listing concierge service we will coordinate getting your home all fixed up and ready to sell. We will manage the entire process of getting your home ready and all decked out with the latest trends, designs and materials. Our contractors are all licensed, bonded, and insured and do excellent work. Best of all, there is no money due up front. This saves you the time and expense of interviewing contractors, managing the work, and all the headache that goes along with fixing up a property. This enables our clients to position their property as "move in ready" to capture maximum buyer interest.

When we renovate homes, our clients receive on average a 150% return on investment!

We have negotiated great terms with our contractors and they don't get paid until the work is done and the home is sold.

The Federal Reserve's Open Market Committee (FOMC) met last week and decided to leave the fed funds rate unchanged, citing a strong economy and inflation that has failed to make any progress over the most recent couple of months. On the other hand, the most recent jobs data came in well below expectations at 175k, suggesting that the labor market cooling trend may have already started. With a weaker-than-expected jobs report and the Fed hinting that a rate hike is unlikely, mortgage rates ended this week at the lowest levels since early April, and provided hopes that rates may start to creep down as we approach the second half of the year.

Federal Reserve leaves rate unchanged as inflation progress stalls: The Federal Reserve kept the fed funds target range steady at 5.25% to 5.50% after its March FOMC meeting, due to lack of progress in inflation easing in recent months. The central bank also suggested, however, that it will likely hold rates at their current level longer rather than raise rates again. Fed chair Jerome Powell acknowledged that the inflation fight has experienced setback in the past few months but expected inflation to resume its declining trend later this year. At the conclusion of the meeting, the Committee also announced that it intends to slow the pace of quantitative tightening, the ongoing reduction of its $7.4 trillion asset portfolio, starting on June 1. By significantly curtailing the selling off of its assets, the Fed is hoping to keep normalizing the size of its balance sheet without creating money market stresses and putting too much upward pressure on interest rates. 

Latest jobs report shows hiring slowdown: The employment situation in April came in softer than expected and started the second quarter with signs that the labor market could finally be cooling. Nonfarm payrolls added a seasonally adjusted 175k jobs in April, the slowest growth pace in six months, and was well below the consensus expectations of 240k gain. While last month’s jobs numbers were sharply below the upwardly revised 315k increase in March, they were in line with pre-pandemic levels and on par with the neutral rate of job growth to keep up with population growth. Meanwhile, the unemployment rate inched up to 3.9% last month from 3.8% in March and remained below 4% for the 27th consecutive month. Wage growth recorded its first sub-4% print in nearly three years with average hourly earnings rising 3.9% year-over-year, another signal that suggests a slowdown in the job market is forthcoming.  

Residential construction spending slows across the board in March: Construction spending in the U.S. fell for the second time in three months, with total outlays declining on a month-to-month basis by 0.2% in March. While the overall spending continued to increase on a year-over-year basis by 9.6%, the monthly dip was a surprise as economists polled by Reuters projected a 0.3% gain for the month. A pullback in residential spending and a further slowdown in private nonresidential spending were the primary factors that weigh on the headline number. With the resurgence in mortgage rates in March, residential spending fell across the board with single-family, multifamily, and home improvement all declined month-over-month in March. Despite weaker total outlays in March, acute housing shortage and recent decline in mortgage rates should continue to provide support to home building activity, and spending on single-family constructions is expected to improve gradually in the second half of 2024.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Hope everyone has a great Mother's Day weekend!

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

Looking To Sell A Property That Needs Some Work?

Save The Time & Hassle With Our Listing Concierge!

Does your property need some TLC or would having some improvements help you fetch top dollar? With our new listing concierge service we will coordinate getting your home all fixed up and ready to sell. We will manage the entire process of getting your home ready and all decked out with the latest trends, designs and materials. Our contractors are all licensed, bonded, and insured and do excellent work. Best of all, there is no money due up front. This saves you the time and expense of interviewing contractors, managing the work, and all the headache that goes along with fixing up a property. This enables our clients to position their property as "move in ready" to capture maximum buyer interest.

When we renovate homes, our clients receive on average a 150% return on investment!

We have negotiated great terms with our contractors and they don't get paid until the work is done and the home is sold.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

525 E Seaside Way #1508

Long Beach 90802

2 Bed | 2 Bath | 1030 SF | $759,900

Enjoy breathtaking ocean views from the living room, bedrooms and the patio in this modern luxury 2 bed, 2 bath highrise condo. Walking distance to the beach, harbor, Shoreline Village, Terrace Theater, restaurants, nightlife, and so much more!

In Escrow

3022 Bostonian Dr.

Rossmoor 90720

4 Bed | 3 Bath | 2,612 SF | $1,700,000

Welcome Home - Updated Kempton model home featuring 4 bed, 3 baths in Rossmoor. Located within walking distance to parks and shopping. Just a short drive to the Seal Beach pier. Great schools in the award winning Los Alamitos school district.

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

DRE #01399855

Mortgage rates rose slightly this week as the latest macroeconomic report shows that the U.S. economy continued to grow moderately with inflation remaining sticky and declining slower than expected. Despite being in an environment where rates stay higher for longer, there are signs that suggest that housing consumers are gradually adjusting to the new normal. New home sales bouncing back strongly in March, for example, is an indication that homebuyers still want to buy if they can find a way to get back into the market.

Mortgage rates rise slightly: The Freddie Mac fixed rate for a 30-year mortgage rose 5 basis points this week to 7.22% upon still-strong economic data. This week marks the fifth consecutive week of increase, with mortgage rates reaching their highest level since late November. In Wednesday’s meeting, the FOMC voted to hold rates steady and Chair Powell emphasized, once again, that future rate decisions will be dependent on incoming inflation and employment data. This means that mortgage rates are not likely to ease significantly until incoming data suggests that inflation is convincingly en route to the Fed’s desired 2% level. Recent data reflects a surprisingly resilient economy, which means rate cuts expectations have pushed out further into the back half of the year.

New home sales have the strongest pace in six months: New home sales in the U.S. bounced back in March after a brief retreat in February, with the number of newly constructed single-family houses sold rising 8.8% month-over-month and surging 8.3% year-over-year. Last month’s sales were the strongest sales pace since September 2023. With interest rates back on a rising trend since mid-March, more homebuyers turned to the new home market as many builders were still offering price discounts, mortgage rate buy-downs, and other incentives to offset the eroding housing affordability conditions. Ample inventory in the new home market was another reason for the increase in sales of newly constructed homes. The supply of new homes continued to rise and reached the highest level since February 2021, with the count of housing units for sale climbing to 477,000 in March, an increase of 10.2% from the same month last year. The March inventory level is equivalent to a supply of 8.3 months and remains well above the historical average of 5.9 months. Meanwhile, prices for new homes in March inched up from February but declined from a year ago. The national median price dropped 1.9% year-over-year to $430,700. 

Mortgage delinquency rate falls from a year ago: Mortgage delinquency at the national level dipped on a year-over-year basis for the first time in six months, according to the latest Loan Performance Insights released by CoreLogic. Mortgages that were late in payment by at least 30 days or more dropped 0.2 percentage points from 3.0% in February 2023 to 2.8% in February 2024. The share of mortgages that were past due for six months or more reached the lowest level in 15 years. Almost all stages of delinquency were at near record lows in February and only four states reported year-over-year increases in overall delinquency rates, while eight states remained unchanged from a year ago. With home prices expected to rise further in coming months and the U.S. likely to avoid an economic downturn this year, the mortgage delinquency rate should maintain its stability throughout the rest of the year. 

US economic growth slows in the first quarter: The U.S. economy continued to grow in the first three months of the year but at a pace slower than expected. The first quarter Gross Domestic Product (GDP) increased from the previous quarter by an annualized rate of 1.6%, a sharp decline from Q4 2023’s 3.4%, and was the weakest pace of growth since Q2 2022. A sharp pullback in exports, a decrease in inventory investment in the private sector, and a slowdown in government spending all contributed to the softening in growth in economic activity. Consumer spending, while still gaining at a healthy pace, also slowed to 2.5% in Q1 2024 from 3.3% in the prior quarter. Despite the slowdown in economic growth, inflation in Q1 2024 remained stubbornly high. The Personal Consumption expenditure (PCE) Deflator - a key inflation gauge preferred by the Federal Reserve - increased 3.4% in Q1 2024, the biggest gain in a year. The pick-up in inflation indicated by the latest GDP report likely reaffirms the Fed’s decision to hold the rate-cut movement for a little longer.  

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

Looking To Sell A Property That Needs Some Work?

Save The Time & Hassle With Our Listing Concierge!

Does your property need some TLC or would having some improvements help you fetch top dollar? With our new listing concierge service we will coordinate getting your home all fixed up and ready to sell. We will manage the entire process of getting your home ready and all decked out with the latest trends, designs and materials. Our contractors are all licensed, bonded, and insured and do excellent work. Best of all, there is no money due up front. This saves you the time and expense of interviewing contractors, managing the work, and all the headache that goes along with fixing up a property. This enables our clients to position their property as "move in ready" to capture maximum buyer interest.

When we renovate homes, our clients receive on average a 150% return on investment!

We have negotiated great terms with our contractors and they don't get paid until the work is done and the home is sold.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Coming Soon

525 E Seaside Way #1508

Long Beach 90802

2 Bed | 2 Bath | 1030 SF | $759,900

Enjoy breathtaking ocean views from the living room, bedrooms and the patio in this modern luxury 2 bed, 2 bath highrise condo. Walking distance to the beach, harbor, Shoreline Village, Terrace Theater, restaurants, nightlife, and so much more!

In Escrow

3022 Bostonian Dr.

Rossmoor 90720

4 Bed | 3 Bath | 2,612 SF | $1,700,000

Welcome Home - Updated Kempton model home featuring 4 bed, 3 baths in Rossmoor. Located within walking distance to parks and shopping. Just a short drive to the Seal Beach pier. Great schools in the award winning Los Alamitos school district.

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

DRE #01399855

Home sales activity pulled back in March as mortgage rates continued to rise in the past few weeks. With inflation remaining sticky and above the Fed’s policy target range, the housing market  had  a  slow  start  to  kick  off  the  spring  homebuying  season.  Despite  the  headwinds, REALTORS® remain upbeat and believe the market will continue to improve in the later part of the season. The latest improvement in housing supply and the increase in competitiveness in the market, indeed, offer encouraging signs that the market could see better days in the second half of the year when mortgage rates begin to come down.  

Home sales pull back as mortgage rates climb: The California housing market lost some of its momentum in March, as sales fell on a year-over-year basis for the first time in three months after registering back-to-back increases in January and February. Sales of existing single-family homes in California totaled 267,470 on a seasonally adjusted annualized rate in March 2024, down 7.8% from 290,020 in February and down 4.4% from 279,700 in March 2023. The statewide pending sales year-over-year growth climbed back into positive territory in March, with open- escrow sales up 1.1% from the same month of last year. With inflation remaining sticky, however, mortgage rates could stay higher for longer in the short term. As such, sales activity will likely stall in April but could pick back up after the market digests the latest set of inflation news.

California median price reaches highest level in seven months: The statewide median price recorded another strong year-over-year gain in March. California’s median home price was $854,490, up 6.0% from February and up 7.7% from an upwardly revised $793,260 in March 2023. The modest year-over-year gain was the ninth straight month of annual price increases for the Golden State. It was also the eleventh time in the last 12 months that the median price for an existing single-family home exceeds the $800,000 benchmark. With home sales holding up better in the high-end markets than their more affordable counterparts in the last few months, the change in the mix of sales has been playing a supportive role for the increase in the statewide median price. With seasonal factors and tight inventory expected to continue to put upward pressure on prices, California’s median price should climb further in the next couple of months.

REALTORS®’ insights offer hope for spring homebuying season: The latest REALTORS® Confidence index released by the National Association of REALTORS® suggests that the housing market will continue to improve, albeit slowly, from last year. Findings from March’s survey indicate that 26%  of REALTORS® who  responded  to  the  survey  expected  a  year-over-year increase in buyer traffic in the next three months, a dip from 30% in February but a jump from 21% in March 2023. The same number of respondents (26%) also expected a year-over-year growth in seller traffic for the same time frame, unchanged from February but more than doubled from 12% recorded 12 months ago. The housing market remained competitive last month as 60% of respondents said homes listed on the market were sold in less than a month, an improvement from 56% recorded a month ago but a decline from 65% in March 2023. On average, listings received 3.1 offers in March, as compared to 2.7 offers in the prior month and 3.2 offers in the prior year. 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our 

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Coming Soon

3022 Bostonian Dr. 

Rossmoor 90720

4 Bed | 3 Bath | 2,612 SF | $1,700,000

Welcome Home - Updated Kempton model home featuring 4 bed, 3 baths in Rossmoor. Located within walking distance to parks and shopping. Just a short drive to the Seal Beach pier. Great schools in the award winning Los Alamitos school district. 

For Sale

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $275,000

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

1985 San Francisco Ave. 

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117 

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage. 

14715 Bellflower Blvd. 

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey. 

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard. 

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave 

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle. 

5417 Bonfair Ave 

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood. 

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

DRE #01399855

We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. As a result, the bond market has sent interest rates climbing as investor demand for treasuries declines. The 10-year note has now surpassed 4.5% for the first time in nearly 6 months and mortgage rates have followed them north of 7% again. The outlook has not changed dramatically, but we expect more speed bumps in the coming months as the markets digest the latest data.

Inflation Moves Wrong Way, Scares Bond Market: The latest inflation data topped expectations for the third month in a row, with the March headline Consumer Price Index (CPI) registering an increase of 0.4% month-over-month and an increase of 3.5% year-over-year. Economists generally expected last month’s index to climb 0.3% and 3.4%, respectively. Energy and shelter costs continued to represent the driving force fueling a solid increase in the headline CPI number. The Core CPI – inflation excluding food and energy – recorded a year-over-year growth of 3.8% in March, a touch higher than the estimated 3.7% projected by the consensus. With consumer price inflation remaining sticky in the latest report, the Federal Reserve will likely stay put in their upcoming meeting in May. The economy should ease starting at the end of the second quarter and we still expect the central bank to cut rates before the end of the year.

Mortgage Rates React to Stronger-Than-Expected Economic Data: Higher-than-expected inflation caused a severe reaction in the bond market last week as 10-year Treasury rates jumped above 4.5% for the first time since November as the odds of a Fed rate cut before the end of the second quarter drop. As a result, mortgage rates jumped up as well with the average 30-year fixed-rate mortgage being quoted at 7.44% in the latest daily numbers. The recent rise in rates has weighed on closed and pending sales, which lost some momentum in March after rising solidly in February. However, longer-term rates have been catching up to where short-term rates have been for some time, leaving the yield curve less inverted now than it has been since rates began rising sharply in 2023. This suggests that a “soft landing” that avoids and economic recession is more likely now than was perceived last year.

Housing Inventory Thaws, But Supply Still an Issue: Even with the jump in rates and consequent impact on purchasing power for potential homebuyers, housing supply remains the largest obstacle to more home sales. Fortunately, the inventory shortage has begun to thaw very slightly of late. New listings have been growing on a year-to-year basis providing more options to buyers that are finally beginning to replenish closed transactions each month. However, the number of homes reaching the market are still too few to prevent rising competition as we enter the Spring Homebuying season. The median number of days a home takes to enter into escrow has fallen into the teens in recent weeks and nearly half of all the transactions are closing above list price once again. Home sales are expected to moderate in response to this more recent jump in interest rates, but the strong economic data and low levels of unemployment continue to put pressure on a housing market that is near historic lows for supply.

Big Spending Report Shows Undaunted Consumers: Although savings rates continue to fall and credit card balances and delinquencies are rising, consumer spending continues to be a significant driver of economic growth. Just like the latest jobs numbers, household spending came in much better than expected. Consumption represents nearly 70% of the U.S. economy and ongoing strength in the household sector in the form of very low unemployment with rising wages and income has translated into overperforming GDP for the past few quarters when many had expected to see the spending boom slow. Many growth forecasts for the first quarter are now being revised upward, which is likely to be viewed as a negative in the bond market because it will be seen as a reason the Federal Reserve will use to delay any rate cuts.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our 

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Coming Soon

3022 Bostonian Dr. 

Rossmoor 90720

4 Bed | 3 Bath | 2,612 SF | $1,700,000

Welcome Home - Updated Kempton model home featuring 4 bed, 3 baths in Rossmoor. Located within walking distance to parks and shopping. Just a short drive to the Seal Beach pier. Great schools in the award winning Los Alamitos school district. 

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

1985 San Francisco Ave. 

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117 

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage. 

14715 Bellflower Blvd. 

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey. 

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard. 

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave 

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle. 

5417 Bonfair Ave 

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood. 

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

With the jobs report coming in stronger than expected for the third month in a row, a soft landing in 2024 is looking more and more likely for the economy. However, a decent growth rate in economic activity and a higher than expected March Consumer Price Index report, are delaying the Federal Reserve’s rate-cut movements. As such, Wall Street has adjusted its expectations on the number of cuts accordingly, which might have resulted in the most recent rate increases. Despite the change in expectations, futures contracts continue to point to a 50-75 basis-point (bps) decline in Fed policy rate this year.

Another strong report for the job market in March: Hiring at the end of the first quarter came in much stronger than expected again, with non-farm payrolls adding a seasonally adjusted 303k jobs in March. The gain last month easily topped consensus expectations of 200k. The health care sector remained strong with an employment gain of 72k in March, followed by government (71k), leisure and hospitality (49k), and construction (39k). The unemployment rate slipped down to 3.8% as a result of strong jobs growth, despite a tick-up in labor supply. The labor force participation rate rose 0.2% to 62.7% in March, reaching a four-month high. Wage growth was mostly in line with Wall Street estimates, with average hourly earnings rising 0.3% month-over-month, but slowing to a nearly three-year low of 4.1% year-over-year. The latest jobs report continued to suggest that the labor market remained solid, which might have provided more reasons for the Fed to stick with its wait-and-see approach to cuts.

Futures point to doubts over Fed’s rate cut plans: The strong jobs report released last week and the higher than expected March CPI report this week cast doubts on whether the Fed can keep rate cuts on track this year. At the end of 2023, Wall Street was expecting the central bank to cut rates by 100 bps to 150 bps in 2024. Reports have shown that the economy is more resilient than previously thought and economists have adjusted their expectations downward since then. More investors are now speculating that the Fed may cut its policy rate just once or twice before the end of the year. Futures contracts tied to the federal-funds rate, indeed, indicate that the benchmark rate will finish the year around 4.75%, well below the 4% suggested by those contracts earlier this year.

Home purchase sentiment dips for the first time in four months: Home Purchase Sentiment released by Fannie Mae had its first decline since November 2023, as consumers lowered their expectation in the latest mortgage rate outlook. Twenty-nine percent of the survey respondents in March believed that rates will go down over the next 12 months, a sizable drop from 35% recorded in February. The share of consumers who said it would be easy to get a home mortgage today also declined 4 percentage points to 42% last month. Strong jobs report and concerns about inflation remaining sticky were likely the reasons behind the increased pessimism in rates movement and mortgage eligibility. Despite the drop in optimism towards rates, consumers continued to feel more positive about the current housing market conditions. Those who said it was a good time to buy rose 2 percentage points to 21% and those who said it was a good time to sell inched up 1 percentage points to 66%. Both measures have increased multiple months in a row, which is an encouraging sign for the spring home buying season. 

Homeowners concern about impact of weather on insurance premiums: A study conducted by Fannie Mae indicates that consumers are concerned about how weather-related events could have an impact on their homes and their insurance premiums. At the regional level, those who live in the West are most concerned about extreme heat (27%), drought (24%), and wildfires (22%). Many homeowner correspondents are worried because of the resulting expenses. Two-thirds of homeowners, in fact, said that weather-related damage has had an impact on their insurance premiums. Among homeowners who have homeowner’s insurance, nearly one out of ten were unsure if they would be able to afford their premiums at the next renewal date.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. OPEN HOUSE

Saturday 1:00 - 4:00 pm & Sunday 12:00 - 3:00 pm.

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

DRE #01399855

The economy had solid growth in the first quarter with consumers feeling more confident about their financial well-being than last year. Their resilience in spending, however, is keeping inflation from falling and could create a real problem for the Fed in bringing down interest rates in the near term. Other macroeconomic indicators such as household purchasing power, on the other hand, suggest that the economy should start pulling back in the near future. As of now, the central bank is still projected to cut rates by 75 bps this year and the first rate-cut is expected to be in June. If the prediction turns out to be true, rates should begin a more sustainable declining trend in May, which should help improve the housing market in the spring home buying season. 

Consumer confidence holds steady but short-term outlook slips: Consumer assessment of the economy and their financial well-being was virtually unchanged in March, as the Conference Board reported a slip of its Consumer Confidence Index by 0.1 points from a downwardly revised 104.8 recorded in February. Consumers, in general, felt more positive about their current situation, but also became more concerned about their future outlook. The Present Situation Index increased 3.4 points month-over-month to 151.0 in March, but the Expectation Index fell 2.5 points from the prior month to 73.8. Lower expectations for the labor market conditions and the consumers’ assessment of their income prospect were contributing factors to the increase in pessimism in the consumers’ short-term outlook. With interest rates likely to fluctuate throughout the month of April, consumers’ short-term expectations could remain unsettled in the upcoming month. 

Consumer spending surges by the most since January 2023: After pulling back on spending at the start of the year, consumers began to splurge again in February despite borrowing costs remaining elevated. Consumer spending, or personal consumption expenditure, jumped 0.8% month-over-month in February after registering a more moderate 0.2% in January. The runup in overall spending was primarily due to a surge of 0.6% in the service sector, the biggest increase since the summer of 2021. If consumers continue to spend freely in the service sector, service prices may not ease back in the short term and could post a real problem for the Fed in making their decision on cutting rates. 

New home sales eased in February: New home sales in the U.S. came in softer than expected in February, with the number of newly constructed single-family houses sold dipping 0.3% month-over-month but gaining 5.9% year-over-year. The uptick in mortgage rates in February and a bounce back in inventory in the resale market might have curtailed sales in the new housing market in the latest report. Prices for new homes also came down in February with the median price dropping 7.6% from the year-ago level to $400,500 and reached the lowest level since June 2021. Declines in new home prices could be attributed to multiple factors. Builders’ willingness to reduce prices as construction costs dipped and developers releasing more smaller and affordable units in recent months are two main reasons that may offer some explanations. New housing inventory continued to rise and reached the highest level since November 2022, with new housing units climbing to 462,000 in February, an increase of 5.9% from the same time last year. The February inventory level is equivalent to a supply of 8.4 months and remains well above the historical average of 5.9 months. 

Residential construction spending continues to rise in February: Higher interest rates might have weighed on overall construction spending, but residential construction spending remained on an upward trend in February. Total construction spending in the second month of the year dropped 0.3% from the prior month, primarily due to nonresidential spending falling 1.0% as private and public categories weakened. Single-family outlays, on the other hand, increased again for the third straight month, with spending for single-family units rising 1.4% month-over-month and 17.2% year-over-year. Multifamily spending dipped from the prior month by 0.2% as vacancy rate continued to climb and rent growth softened further. With new home sales expected to pick back up as the market enters the spring home buying season, residential spending – particularly single-family outlays – should inch up further in coming months. 

Mortgage delinquency rate remains flat from last year: Mortgage delinquency at the national level was unchanged and remained near an all-time low in January, according to the latest Loan Performance Insights released by CoreLogic. Mortgage borrowers who were late in making their payments by 30 days or more accounted for 2.8% of all outstanding mortgages in the first month of the year, flat from the same level recorded 12 months ago. Twelve states reported year-over-year increases in overall delinquency rates, while 19 states’ rates remained unchanged from a year ago. A strong job market, moderate increases in home prices, and fewer homebuyers overleveraging in recent years when purchasing their properties are reasons that kept delinquency rates from rising high in the past couple of years. With home prices projected to increase in 2024 and the economy not likely to enter a recession this year, mortgage delinquencies should remain steady in the next 12 months.

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views.  OPEN HOUSE

Saturday & Sunday

12:00 - 3:00 pm

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

DRE #01399855