Sell Your House Now!
Interesting article today from the California Association of Realtors (C.A.R.). They noted that statistically speaking the number of homes for sale is ping dramatically this year for two reasons, and the prices are rising! The first reason is because there are fewer people actually selling their houses and the second reason is that because there are fewer houses for sale the houses that are being sold are being sold for more money! Multiple offers are coming in almost all the time driving up the prices even more!
Prices have hit a recent all time high. Multiple offers are coming in on over 70% of the properties, and overbidding is very common.Steve Innis, the broker/owner of Clairemont Realty has over 40 years experience and knows how to make this a huge advantage for you, the seller.
This drives the prices up! And with low home mortgage interest rates selling your Bay Ho, Clairemont, Bay Park, or Serra Mesa home today is very profitable.
Call me today and lets discuss taking your home to market and develop a strategy to get the very best money for your house in the least amount of time.
Steve Innis, Broker
You can also find us on the web at www.InnisRealtors.com
California pending home sales downshift for third straight month in March
LOS ANGELES (April 24) – Even with a strong performance in March closed escrow sales, a shortage of available homes and robust price growth that’s eating away at affordability stifled pending home sales for the third straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Following seasonal factors, REALTORS® responding to C.A.R.’s March Market Pulse Survey** saw elevated market activity, with an increase in floor calls, presentations, and open house traffic for the third month in a row.
Pending home sales data:
• Based on signed contracts, statewide pending home sales decreased for the third straight month in March on a seasonally adjusted basis, with the Pending Home Sales Index (PHSI)* declining 4.5 percent from 112.5 in March 2016 to 107.4 in March 2017. On a monthly basis, California pending home sales dipped 2.9 percent from the February index of 110.6.
• March’s pending sales decline is the greatest so far this year, portending sales activity in the usually busy spring homebuying season will be dampened, primarily due to demand outstripping the supply of active listings, which was 12 percent lower than in March a year ago.
• At the regional level, Southern California remains the bright spot in the state, which led both in closed escrow sales in March and the smallest decrease (-1.3 percent) in March non-seasonally adjusted pending sales. In fact, Los Angeles and Riverside counties were the only two areas of Southern California that saw an increase in pending sales from a year ago, at 1.6 percent and 3.1 percent, respectively. Pending sales fell 3.6 percent from March 2016 in Orange County, 5.6 percent in San Diego County, and 8.0 percent in San Bernardino County.
• For the San Francisco Bay Area as a whole – which continues to be plagued by a shortage of homes on the market and eroding affordability – non-seasonally adjusted pending sales were down year-to-year for the sixth straight month, with every tracked county in the region experiencing a significant in pending sales activity. The Bay Area pending sales index fell 10.1 percent from 179.2 in March 2016 to 161.0 in March 2017. Monterey and Santa Cruz counties experienced the largest year-to-year reductions in pending sales of 17.3 percent and 16.4 percent, respectively. Pending home sales fell 15.9 percent from the previous year in San Francisco County, 14.9 percent in Santa Clara County, and 8.6 percent in San Mateo County.
• Pending sales in the Central Valley Region fell 5.5 percent from 96.3 in March 2016 to 91.0 in March 2017. Within Central Valley, pending sales edged up 0.4 percent in Kern County, while they were down 3.7 percent in Sacramento compared with a year ago.
• In C.A.R.’s newest market indicator of future price appreciation, Market Velocity – home sales relative to the number of new listings coming on line each month to replenish that sold inventory – suggests the increase in prices continues to be a supply-driven phenomenon and that price growth should continue through the summer.
Blog Archive2017-11-15 16:24:10
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