Sky-high prices in the Southern California housing market are making it difficult for both buyers and sellers alike.
"Sellers want to sell, but they're reticent to when they have a 3% interest rate," he said. "And to buy, it would be more expensive and at a higher rate, so it knocks out that equity gain they have. If there is good news for buyers, realtors say that with prices so high prospective buyers might not need to be as worried about getting into a bidding war as they might have in the past.
"And instead of being $50,000 or $60,000 over asking price, they're $5,000, $10,000 or $15,000 over asking price."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: