Southern California Home Sales:
Prices And Sales Are Both Up
Southern California Home Sales Mirror
The National Trends ... UP!
Not to be left out in the cold, California Home Sales in august registered numbers that reflect the averages nationwide ... and those numbers are up in both prices and sales. Last month we picked up quite a few indicators that told us to watch for an uptick in Southern California home sales. Well, those indicators weren't wrong.
Southern California home sales show that in August, the median home price rose 3.2 percent, while sales were up 8.4 percent from the month before.
Read all the details in this article by Kevin Smith in the Pasadena Star-News:
"Year-over-year results were even better, with an annual price gain of 10.2 percent and a sales increase of 14.4 percent. California home sales declined in August but continued to maintain a strong pace, recording five consecutive months of year-over-year sales gains, while the median price reached a four-year high, CAR reported." ... Pasadena Star-News
Distressed Properties Still Make Up Large Portion Of Southern California Home Sales
Distressed properties are still a huge influence in Southern California home sales. Short Sales and Bank-owned properties make up a large proportion of the market, even though there are fewer REO properties on the market than there were a year ago. However, aggressive Investors and amenable Lenders show that even though prices may be rising, Southern California home sales are an attractive investment opportunity right now.
Southern California Home Sales.