SIGNS POINT TO CONTINUED RISE IN HOME VALUES IN THE COMING MONTHS
Wow! We are in such in interesting real estate market here in the South East Los Angeles and North Orange county areas. In this part of Southern California we are not seeing a slow down in rising home values. In part it’s do to the fact that we’re not dealing with multi million dollar homes in this section. We’re not dealing with high rise condos or beach front property. We’re mostly dealing with prices ranging from $400K-$900K for single family residences. Within this range most buyers are qualified for the lower $500K mark if they are first time home buyers and from $700K-$900K if they are selling their home to buy an upgrade.
it is in these price ranges that we believe will continue to steadily rise over the next couple of years. Keep in mind we said, steadily. We don’t think there will be a spike in home values however judging from what we are seeing in the graph above, there will be continued upward movement and here’s why…
The top line shows number of listings entering the market in any given month. The bottom line shows The number of listings sold in that month. So that you would see a little more clearly what is going on with these numbers we included 2 arrows in the graph that display the trend that is taking place with the data. Notice in the top line (Number of listings entering the market), we are seeing an overall decline in. That means less and less homes are entering that market for sale as time goes on, so less and less homeowners are selling their homes and therefore there is less and less supply of homes for sale. That creates a supply problem… Now look at the bottom line (Number of sold listings). The arrow shows the trend go steadily going up in the last four years. That’s telling us the more and more buyers are coming to the table and need to get into a home!
So less and less hitting the market and more and more homes being sold! This is a clear indication that home values will continue to steadily increase based on this analysis. Now this is just one piece of the pie in predicting where the market is headed. There are so money other factors to consider but we believe this is a overall large piece of the pie! We hope we provided some insight for you. please call us anytime. We’d love to serve you with any of you real estate questions and needs.
SIGNS POINT TO CONTINUED RISE IN HOME VALUES IN THE COMING MONTHS
Wow! We are in such in interesting real estate market here in the South East Los Angeles and North Orange county areas. In this part of Southern California we are not seeing a slow down in rising home values. In part it’s do to the fact that we’re not dealing with multi million dollar homes in this section. We’re not dealing with high rise condos or beach front property. We’re mostly dealing with prices ranging from $400K-$900K for single family residences. Within this range most buyers are qualified for the lower $500K mark if they are first time home buyers and from $700K-$900K if they are selling their home to buy an upgrade.
it is in these price ranges that we believe will continue to steadily rise over the next couple of years. Keep in mind we said, steadily. We don’t think there will be a spike in home values however judging from what we are seeing in the graph above, there will be continued upward movement and here’s why…
The top line shows number of listings entering the market in any given month. The bottom line shows The number of listings sold in that month. So that you would see a little more clearly what is going on with these numbers we included 2 arrows in the graph that display the trend that is taking place with the data. Notice in the top line (Number of listings entering the market), we are seeing an overall decline in. That means less and less homes are entering that market for sale as time goes on, so less and less homeowners are selling their homes and therefore there is less and less supply of homes for sale. That creates a supply problem… Now look at the bottom line (Number of sold listings). The arrow shows the trend go steadily going up in the last four years. That’s telling us the more and more buyers are coming to the table and need to get into a home!
So less and less hitting the market and more and more homes being sold! This is a clear indication that home values will continue to steadily increase based on this analysis. Now this is just one piece of the pie in predicting where the market is headed. There are so money other factors to consider but we believe this is a overall large piece of the pie! We hope we provided some insight for you. please call us anytime. We’d love to serve you with any of you real estate questions and needs.
