HOME VALUES SLIGHTLY DOWN FOR THE MONTH OF APRIL SO DON’T WAIT!

We’re experiencing a correction in the market locally.  As shown on the left the average sales price in South East Los Angeles, North Orange County was $560,975.  That’s a slight drop in average sales price from the previous month.  Home values hit a record high in March hitting an average sales price of $583,687. We haven’t seen properties hit those highs since the “Bubble burst” in late 2007 early 2008.  Note that the fact that we have a lower average sales price now compared to the previous month is not at all an indication that home values are now starting to decline.  Just looking back at the graph, there is a history of drops right after a huge spike in home values, yet overall the market is much higher than it was in years past.  

It’s clear that the market is moving.  Interest rates are currently in the high 4% range approaching 5%.  Although interest rates have risen and are still slightly going up, buyers are still able to afford purchasing homes.  

The state of the economy is also playing a part in the movement of this real estate market.  Unemployment is at a low and consumer confidence is up!  All these factors combined mean 1 thing.  All homeowners are in a perfect position to get the most money for their properties.   DON’T MISS THE MARK!     Call us, Ask for Maria!  (562) 883-1003