Okay, so I was reading a great article on DQ NEWS. It was really encouraging because in comparison to April, 2011, home sales were up by 0.9%. This stat is for resale homes, condos and new homes. and 53% of those sold were "distressed" properties. A sign that things are looking a little better?
To put it in a little better perspective, home sales in May 2010 were 13.3% higher than this year. Still an increase from the previous month!
Foreclosures, you ask? 35.5% were homes that had been foreclosed on during the previous twelve months. This figure is down from April 2011, and about the same as May 2010. February 2009 had the highest percentage at 58.5%. Wow, was it really that high? I remember when we couldn't get offers accpeted for months and months.... but I digress.
Short Sales made up a mere 17.9% of last months sales, which was up from april and down from last year.
To read the entire article, CLICK HERE.
All in all, it's a marvelous time to buy and/or sell properties! Lower prices and lower interest rates are making buyers come back into the market, especially first-time homebuyers. And sellers are making up the difference on their lower sales price by purchasing at a lower price. And coupled with the fabulously lower interest rates, they are getting bargains.
Call me for all your SOUTHERN CALIFORNIA REAL ESTATE NEEDS!
CALIFORNIA LIVING!
Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com
