Still in Recovery: Inventory is low, thus home selling values continue to rise in California

Posted on June 16, 2014 by

Housing, which was rallying a year ago, has stumbled. Home sales, new
construction, and prices rebounded strongly after hitting bottom in late 2011, but all three have moved lower or sideways in recent months. One very important factor in the housing market which has improved is a giant relief to lenders and homeowners. The decline in the number of distressed homes has accelerated since 2011. Short sales, investor sales, and some federal programs designed to prevent foreclosures have removed homes from the distressed inventory.

Has the housing rebound fizzled out?

Posted on May 16, 2014 by

The resale market started strong in late 2012 and peaked in
the summer months of 2013. Though selling values remain
high, transactions have been in decline since the early fall
of 2013. The market is sluggish. The investors are gone,
largely because the distressed inventory of homes has been
purchased. And it appears that mortgage resets occurring
this year will not pose a new threat to the housing sector.
What remains a limiting factor for housing is access to credit.

House for Sale

Home ownership has been in decline.
Population continues to increase while new housing development has been close to non-existent.
Existing housing inventory for sale is below normal, and even lower in California.

What’s it all mean for 2014? Read more HERE.