Malibu’s housing market has thrived during the coronavirus pandemic, as dwindling inventory in the beach city’s most desirable pockets has pushed home prices well above the normal rates.

UT ENIM AD MINIM VENIAM

With COVID cases continuing to rise across the country, hopefuls waiting out the summer for a bargain during Malibu’s off-peak season may be left out in the cold, according to luxury real estate specialist and television personality Chad Rogers.

DUIS SIT AMET SODALES FELIS

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Samantha Akkineni

According to housing data provider CoreLogic, rising prices have been evidenced at a national level, with the annual growth of home prices in July accelerating at its fast rate in nearly two years. U.S. home prices rose 5.5% in July when compared with the same month the previous year.

DONEC A DUI ET DUI FRINGILLA CONSECTETUR

• Lorem ipsum dolor sit amet.
• At vero eos et accusamus et iusto odio.
• Excepteur sint occaecat cupidatat non proident.

While Malibu’s total sales have lagged compared with previous years, a lack of inventory coupled with historically low interest rates has created a highly competitive market. Southern California residents and seasonal visitors now go toe-to-toe for the best stay-at-home properties they can find. The lease market, which historically operates with a level of seasonality, has also experienced a sustained price creep.