Santa Barbara's Market Trends

Happy New Year!  The Outlook for 2016 is very pleasant, more so than expected. We were all anticipating the Fed rate hike, which turned out… barely budged. Rates will likely stay relatively low, under 5%, for the year even if they continue to rise.

Other good news comes in the form of appreciation gains from 4%-6%. In Santa Barbara this means a possible increase around $65,000 in median home prices. That is quite a tremendous gain in equity just by living in your home. So homeowners live away and be sure to smile this year!

Home sales should increase ever so slightly in 2016, probably a couple percent as inventory should stay consistent.