Real Estate News About The South Orange County Coastal Communities of Laguna Beach, Dana Point, San Clemente, Newport Beach, Corona del Mar, Newport Coast.
Wednesday, June 2, 2021
MAY 2021 ORANGE COUNTY REAL ESTATE NEWSLETTER
Horton Team Real Estate Newsletter
MAY 2021
Thank you for reading our newsletter. We strive to keep you informed about the real estate market. If we can answer any questions or be of service, please keep in touch! All the best, Amanda, Pamela & Jace
Recovery from pandemic recession shows momentum
Source: OC Register May 2021
REMARKABLY FAST RECOVERY
Powered by consumers and fueled by government aid, the US economy is achieving a remarkably fast recovery from the recession that ripped through the nation last year on the heels of the coronavirus and cost tens of millions of Americans their jobs and businesses.
The economy grew last quarter at a vicious 6.4% annual rate, the government said Thursday expectations are that the current quarter will be even better than ever, people seeking unemployment aid last week reached its lowest points since the pandemic struck. More Americans signed contracts to buy homes in March reflecting a strong housing market as summer approaches.
With the widespread vaccinations and declining viral cases, the reopening of more businesses, a huge infusion of federal aid and healthy job gains should help sustain steady growth. For 2021 as a whole they expect the economy to expand around 7% which would mark the fastest calendar year growth since 1984.
RATES TO REMAIN LOW
Rates to remain low. The federal reserve is keeping its ultra low interest-rate policies in place a sign that it wants to see more evidence of the strengthening economic recovery before it would consider easing its support. Wednesday they expressed a brighter outlook saying the economy has improved along with the job market and though the policymakers noted that inflation has risen described the increase to temporary factors.
THREAT TO ECONOMY HAS DIMINISHED
The Fed also signaled belief that the pandemic threat to the economy has diminished. The only risks to the economic outlook remain because of the pandemic. The central bank left it’s benchmark rate near zero, where it has been since the pandemic erupted nearly a year ago, to help keep loan rates down and encourage borrowing and spending.
IN ESCROW
Laguna Beach
30722 Driftwood Drive - $2,270,000 South Laguna, listed and in escrow within One Week! Representing Sellers
916 Santa Ana Street - $1,899,000 3bd, 2.5 ba, 2,141 sqft Representing Sellers
JUST SOLD
Corona Del Mar
310 Iris Avenue - $4,200,000 Off Market Find! Represented Buyers
JUST SOLD
Huntington Beach
317 7th Street - $1,800,000 Mediterranean home near downtown, beaches. Represented Seller
JUST SOLD
Laguna Beach
120 Santa Rosa Ct - $668,000 The Terraces, Laguna Beach Off Market Find! Represented Buyer
885 La Mirada - $500,000 25 x 100 ft buildable ocean view lot Arch Beach Heights Represented Seller
MARKET STATISTICS
Laguna Beach - May 2021
Active - 139 Pending - 74 Sold in April - 61 Under $1,000,000 - 5 $1,000,000 - $2,000,000 - 17 $2,000,000 - $3,000,000 - 20 $3,000,000 - $5,000,000 - 12 $5,000,000 - $10,000,000 - 6 $11,750,000 - 1
