Real Estate Trends

The median home price in California has reached its highest level since 2007, coming in at $522,440 for February 2018 (data compiled by the California Association of Realtors - CAR.) That's an 8.8% increase, year to year, from February 2017, when the median home price in the state was $480,270. The peak of the market for California came in May of 2007 when the median home price was $594,530. According to CAR  "year-over-year price gain has been growing at or above 7 percent for eight of the past nine months." Get Pre-Approved for…

Home prices in the country, spurred by low mortgage rates, continue to forge ahead. On average, American home prices have recovered nearly all their losses from the 2006 crash, but when adjusted for inflation they still have some ground to cover at 20% below the 2006 peak. Home Price Index (HPI) indicates that home prices nationwide, including distressed sales, gained 1.1 percent from June and were 6 percent higher than in July 2015. Get Pre-Approved to buy a Home Oregon and Washington continue to top the charts with double digit annual increases of…

Home prices are soaring nationwide. Houses are flying off the market in record time. It sounds like sunshine and rainbows for the housing market right? Are home prices rising too fast though? Is it sustainable? In the super-hot markets - like San Francisco and San Jose, CA along with Austin, TX - median prices have risen to levels that are pricing average Americans out of the market. San Jose, CA recently became the first metropolitan area to cross the median home price of $1,000,000. In San Francisco, CA it’s $855,000. Yep, you are reading…

Existing home sales rose 1.8 percent in May - their highest pace since February 2007 - according to the National Association of Realtors (NAR) anticipated monthly report that came out this week. In total, 5.53 million single family, condo and townhome sales came to fruition. Strong numbers considering that inventory issues - especially on the low-end - continue to disrupt many housing markets. The lack of available homes means that many would-be buyers are struggling to get into the market. It also means home prices keep rising. The median price of an existing…

The beat plays on for housing sales. Numbers for existing home sales - as reported by the National Association of Realtors every month - continued to show the strength of the American housing market in April 2016. I’m starting to sound a bit like a broken record. Despite the strong numbers, we would have seen even better numbers if the inventory was available to buy. The good news is that both building permits, housing starts and new home sales numbers showed increased activity in adding that inventory finally. April 2016 Existing Home Sales…

CoreLogic predicted that California Home Prices will continue to appreciate at a rapid pace. It will remain one of the hottest markets in the country with an appreciation rate of >6% in the next 12 months. The news will be equally good across the nation where home prices are expected to increase by 5.3%. With buyers demand outpacing supply and pending home sales reaching new high, it promises to be another scorching hot home buying season.

The National Association of Realtors (NAR) released their monthly numbers on total existing-home sales for March recently. The result? Once again - for the 49th consecutive month - the data was strong and shows year-to-year gains from 2015. Existing home sales are defined as closed transactions that include single-family homes, townhomes and condos. They generally account for 90 percent of the overall housing market. The March numbers continue to show the strength of the housing market in nearly every market nationwide. Nationally, the numbers hopped up 5.1 percent to a seasonally adjusted annual…