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But as the market rises, so do home prices.
If youre looking to invest in a home this year, it pays to do your research.
Joshua Tree happens to be one of them.
Now people are moving away and trying to sell in a market with a lot of inventory.
Besides a mortgage, there are property taxes, insurance and upkeep expenses to consider.
There is low inventory in Orlando, making supply and demand an issue.
There are also other issues that prevent people from wanting to purchase in Orlando.
Despite the rising costs, Orlando is still considered more affordable to buyers from states like California.
Its estimated that Los Angeles currently has a housing shortage of 337,000.
One reason for the housing shortage is that fewer homes are being built.
Another reason is higher interest rates.
They cut into a developers profits, making building homes in Los Angeles less desirable than it once was.
Short-term thinking and fluctuations shouldnt play a role in your primary homebuying mentality, Aumond said.
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