Will El Niño hammer the housing market? The Orange County Register asks several real estate industry professionals to offer their take.
“The rain definitely washes away the profits for investors,” Lin He, an Orange County real estate investor, tells the OC Register. “It has more impact on investors than homeowners.” He adds that the extreme storm could create construction delays, soaking up his earnings.
Another point of view comes from Madeline Schnapp, director of economic research for Property Radar.
“If heavy rainfall happens in December and January, then probably the impact on real estate sales and inventory is minimal, given the fact that both of those months are low sales months,” she tells the OC Register. “If, on the other hand, rainfall is bad in February, March, or April 2016, then there will probably be some impact, as sellers choose to wait for better weather and buyers wait for more inventory.”
PB Topical Ref
