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Tight Housing Supply Remains the Norm in 2024

 

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January 13, 2024

Good morning,

 

While rates had a slight uptick in the first week of the year, easing inflationary pressure and a soft economic outlook prompted many to believe that mortgage rates will decline, albeit slowly, in the next 12 months. The housing market should see a bounce back in activity in the coming months if the sentiment can maintain its upward momentum. The improvement, however, will likely be gradual as tight housing supply remains the norm in 2024.

 

If you have any questions regarding our local market, please reach out.

Information + Updates

Did You Know?

"The US debt reaches $34 trillion and Yes, $34 trillion is a big number, but $142 trillion is even bigger and much more important because it represents the total wealth of Americans, a massive resource that helps fund government debt and deficits." –Claudia Sahm, former Federal Reserve Economist

 

Did You Know?

Did December FOMO spending and 'buy-now-pay-later' fuel a small spike in inflation in December? We shall see... Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4%. Housing drove more than half of this gain......HOUSE-flation? (CNBC)

 

Did You Know?

The number of Americans ages 100 and older is projected to more than quadruple over the next 3 decades, from an estimated 101,000 in 2024 to about 422,000 in 2054, according to projections from the U.S. Census Bureau. Centenarians currently make up just 0.03% of the overall U.S. population, and they are expected to reach 0.1% in 2054. Expect people to work longer, remain active longer, and need homes that allow for those who don't like/want stairs!

 

Did You Know?

"I estimate that there are 4 cuts built into the Fed. Powell indicated a willingness to cut if needed which may be more important than the cuts themselves. I do think they will cut rates because inflation has slowed down. Big rate cuts would indicate notable economic slowdown." -–Jeremy Siegel (Wharton) CNBC

 

Did You Know?

A comprehensive evaluation of what might be the best states to raise a family analyzed 5 key pillars: Family Fun, Health & Safety, Education & Child Care, Affordability and Socio-economics. Utilizing 50 pertinent metrics graded on a 100-point scale to determine optimal living conditions for families, the #1 spot went to......Massachusetts (for the second year), known especially for its outstanding education and child care. Next was North Dakota, Minnesota, Nebraska, New York, Maine, New Hampshire, South Dakota, Rhode Island and Vermont. (Wallethub) 

 

(They obviously don’t know what it is like to live in Emerald Bay in Laguna Beach CA - Let’s keep it a secret!)

 

Did You Know?

Web traffic matters when people try to learn about a brokerage, search for listings and research agents. How does COMPASS compare to other luxury national brokerages? Here are some WEB TRAFFIC numbers (Total visits 3 months, October - December 2023) (Similarweb)

 

Sea Show

Unforgettable Moments with Orcas:

A Once-in-a-Lifetime Experience

 

Whale watchers encountered a pod of five ETP orcas off the coast of San Clemente on Thursday Jan 4 - this pod had a mom calf pair. These orcas were seen 4 miles outside Dana Point and traveled south off San Clemente.

Watch Video
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Housing Market

Silver Tsunami

 

So what happened to the Silver Tsunami originally projected every year since 2015…

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Recharging

Detroit has introduced the first electrified road in the U.S. that can charge electric vehicles (EVs) while they are being driven!

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Recently Sold

I have several off market listings, please contact me if you are looking!!!

For Lease

For Lease

For Lease

Just Leased in 2023

 

322 Emerald Bay

1221 Emerald Bay

806 Emerald Bay

517 Emerald Bay

1503 Emerald Bay

1402 Emerald Bay

150 Emerald Bay

812 Emerald Bay

37 Emerald Bay

523 Emerald Bay

1131 Emerald Bay

78 Emerald Bay

107 High Drive 

I have a few new sales and leases off market, please call for details

 

There are currently 2 active homes for sale in Emerald Bay

ranging in price from $11,000,000 to $11,995,000.

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Work With Maura

Maura Short is known for her strong work ethic, broad industry know-how, and passion for architecture, in addition to her extensive network, confidentiality, and moral code. Combined with her wide-ranging local expertise, all of these assets result in favorable outcomes for both buyers and sellers under her care.
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