California Home Sales:
Here's the Good News
The Number Of Contracts Signed Might Be Static, But Other Factors Hold Positive News For California Home Sales
In two other reports today we saw some good signs for growth in the real estate market that excluded California home sales and other areas of the West. Those reports concerned the number of homes put under contract during the month of July. Those numbers were up nationwide, but not in California. In those posting we discussed the whys and wherefores of that.
Those numbers, however, are not the only measure of California home sales. In this report from the Los Angeles Daily News, we find a wealth of other information from the California Association of Realtors. This report looks at some different numbers that do show really positive signs for California home sales.
Check out this report from City News Service published in the Los Angeles Daily News:
"LOS ANGELES - Home sales in California increased last month, and the median price of a home reached its highest level in nearly four years, the Los Angeles-based California Association of Realtors reported today. Closed escrow sales of existing ..."
California Home Sales Did Increase ... And Prices Are Rising As Well
Those who watch the California home sales figures ... or any market really ... know that when you see both an increase in activity and an increase in prices, you are looking at a more confident buying public. California home sales are shifting away from the low end, REO properties to homes above $500K. This shows a shift from the Investor buyer to the primary home buyer ... and it also shows a Buying public more confident in the market ... and the economy.
California Home Sales