{"id":3975,"date":"2023-12-19T20:48:37","date_gmt":"2023-12-19T20:48:37","guid":{"rendered":"https:\/\/www.coastalcapital.com\/?p=3975"},"modified":"2023-12-19T20:52:30","modified_gmt":"2023-12-19T20:52:30","slug":"coastal-capital-december-2023-latest-updates-insights","status":"publish","type":"post","link":"https:\/\/www.coastalcapital.com\/coastal-capital-december-2023-latest-updates-insights\/","title":{"rendered":"Coastal Capital – December 2023 Latest Updates & InSights"},"content":{"rendered":"\t\t
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COASTAL CAPITAL INSIGHTS<\/span> <\/h1> <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Each month Coastal Capital strives to bring you the latest updates and insights into the California real estate market for both investors and brokers.\u00a0 We always welcome new investors who enjoy above-average returns that are not correlated to the equity markets.\u00a0 As always, we appreciate both new investor and broker referrals, as the network builds it brings more value to all through diversification.<\/span><\/p>

Please note that you can add on to your existing investment in any amount.\u00a0 While an initial investment requires an investment of $100,000; existing partners in the Fund can add on in any amount from $2,500 or more.<\/span><\/b><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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MARKET UPDATE<\/span> <\/h1> <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The median sale price for existing single family residence homes is up 3.4% year-over-year as of October, according to the Fed. The average rate on the 30-year fixed mortgage had dropped to nearly 7% at the end of August, but then began rising sharply, jumping over 8% by mid-October. Rates have since retreated somewhat. This past week, well qualified buyers can get a low-7% rate again which has boosted mortgage application rates.<\/p>

As we close the books on November another month has passed. Another month of higher home prices coupled with a lower number of homes selling! The number of existing home sales in October by volume was down 14.6% lower than they were a year earlier. We expect November\u2019s numbers when released will reflect similarly. Last month, Lawrence Yun, the National Association of Realtor\u2019s chief economist was quoted saying \u201cProspective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation.\u201d We expect the current trend of modest appreciation in most California real estate markets to continue being fueled by low inventory levels.<\/p>

Morgan Stanley analysts recently sent out a new 59-page report to investors, detailing their views on the U.S. economy, housing market, and bond market in 2024. Morgan Stanley analysts believe that the U.S. economy will avoid a recession, incomes will continue to rise, mortgage rates will decrease slightly, and U.S. housing activity will pick up a little.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Source: Morgan Stanley<\/p>

Most other housing analysts still expect U.S. house prices to rise a modest single-digit amount in 2024. This includes forecasts by:<\/p>