The Recovery Of The Real Estate Market Is Gaining Traction

Dated: July 21 2015

Views: 269

According to a tracking firm, sales in Southern California rose 18% from a year ago, reaching their highest point since 2006. 

Sales rose by double digits percentage-wise in all six counties last month, according to CoreLogic, and it was the biggest year-over-year jump in three years. This is important news as many have been expecting a strong recovery over the last few years but have been let down by a stagnant market. 

Some additional figures show that sales of new and previously owned houses and condominiums last month rose from 20,635 a year ago to 24,378, CoreLogic said. June’s sales were 10 percent below that month’s average of 26,972 sales dating back to 1988, when record-keeping began. Andrew LePage an analyst from Corelogic said "It will be interesting to see if the market can hold the higher sales pace. So far this year, the inventory of homes has remained fairly tight, while prices have edged higher and many would-be buyers still struggle with affordability and credit challenges.” 

We have seen that prices of homes have remained steady while the demand has also remained strong. Several of my personal clients have been able to sell their home for top dollars after just listing the property for a few days. This is definitely a sign of a strong market and while prices have gone up, interest reates have remained historically low providing many potential buyers with an opportunity to purchase a home with a great rate. 

Hector del Gaiso

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Hector del Gaiso

I give each of my clients my personal guarantee that they will be satisfied with my services. Over 70% of my business are referrals from past clients. I am proud to say that those relationships have b....

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