San Fernando Valley Home Sales Surge ... Prices Rise
San Fernando Valley Home Sales Figures For October Show 1510 Homes Changed Hands
In a marked improvement in figures from October of last year, San Fernando Valley Home Sales figures show that activity jumped and so did values. In another good sign for the local real estaqte market, October's figures showed a 25% jump in activity and a 10% jump in value over the same month last year.
Here's a report from Gregory Wilcox of the Los Angeles Daily News that breaks it all down.
"By Gregory J. Wilcox, Staff Writer - The San Fernando Valley's housing market roared to life in October, with sales surging 25 percent from a year ago and the median price increasing 10 percent." ... Los Angeles Daily News
Could Recent San Fernando Valley Home Sales Numbers Reflect Buyer's Growing Understanding Of The Market?
It's a difficult thing to "play" a market correctly. It's counterintuitive at best. When analysts talk about a market being "down", that doesn't help to motivate the average consumer into "jumping in". However, the savvy Investor knows that profits are made by "buying in a down market" and "selling in an up market". Even though this is common knowledge ... it's not a common activity to the average home buyer.
Could this recent activity be a reflection that home buyers are beginning to feel comfortable in this market? REO's are no longer driving the market and it has become more "traditional" and "normal". The recent numbers posted in San Fernando Valley Home Sales could be the indication that Buyer's are becoming more comfortable with the market in general. We will have to wait and see.
San Fernando Valley Home Sales.