Southern California Homes Are At All Time High

In the month of May, Southern California had it's biggest price gain in nine years which puts sales at a seven-year high! 

Last month, home purchases jumped 19.5 percent from the year before.  The median price paid for all new and resale houses and condos in the six-county region increased by 24.7 percent. 

Due to the low mortgage rates and thin inventory of home for sale, the real estate market is in full recovery. 

Of course, there is speculation of whether we have entered another housing bubble.  Remember that the prices are heating up because of the low inventory and housing is becoming an attractive investment for many home buyers. 

Source: Daily News Los Angeles

NEW CONSTRUCTION HOMES ARE UP 17% SINCE LAST YEAR

Since last year, new construction home sales are up 17 percent.  And surprise... surprise...low inventory of unsold units available.  (story of the 2013 real estate season) There are new homes being planned but won't be ready or built anytime soon.  Builders are having a hard time keeping up with the housing demand.  

This gives home sellers a great opportunity to sell their home or refinance their home.  

Think of selling, sign up for a complimentary home evaluation report.

Looking to refinance, email me for a list of lender we work with.