San Fernando Valley Home Sales:
A Market On The Rebound
Recent Reports On San Fernando Valley Home Sales Show Growth In Activity And Prices
Recent reports are showing that San Fernando Valley home sales are no exception tot he rule as we see a definite rebound in the California … and national … real estate markets. Median prices are up and so is the number of homes sold. That's a good combination to see.
In this article from Gregory J. Wilcox of the LA Daily News, we see that foreclosures are no longer driving the market and that Standard sales are beginning to take their place. The median sales price has risen as the low-end REO properties have been snatched up by investors and resident purchasers have become more prevalent.
Here's the link to the article by Mr. Wilcox in the LA Daily News.
"The San Fernando Valley's housing market recovery gained steam in July with foreclosures plunging 45 percent from a year ago and sales and prices both increasing amid record low inventory, according to reports released Friday. During July, lenders …"
San Fernando Valley Home Sales See Less Distress
REO and Short Sale transactions have fallen in the area. More San Fernando Valley home sales are Standard Sales with buyers intending to live in their purchases. This is another sign that consumers are showing more confidence in the California real estate market … and more in the general economy as well. We are definitely seeing a market readjusting here and showing signs of rebound.
San Fernando Valley Home Sales.