Long Beach Area Spring Real Estate Market Update

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Nationally, the three most prominent residential real estate market trends are the ongoing lack of inventory, the steadily upward movement of home prices and year-over-year declines in home sales. Those trends are for the most part true in Long Beach as well. The inventory of houses for sale in Long Beach for the past 12 month is 1.8% below the prior year, …

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Are Home Values Overinflated?

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With market volatility, rising interest rates and the continued increases in home prices, sometimes comes the question: Are home values overinflated? Last week,the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report: “The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight …

A Tale of Two Real Estate Markets

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Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets. In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was …

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Home Prices Soar

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Southern California home prices went up in July across Southern California as the already hot housing market saw continued high demand and persistently low inventory. According to a report from CoreLogic, the six-county Southern California area’s median price climbed 7.7% from a year earlier, hitting $501,000. Despite the fact that the market rebound is now in its sixth year, the …

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Southland Home Prices Keep Rising

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Home Prices Hit Record Again Across Southern California, home prices hit record highs in June and they keep going up, according to a report released this week by CoreLogic. In Los Angeles County, the median home price in June jumped 7.4% from a year earlier to $569,000 in June, breaking the previous record that was set in May. In Orange …

Local Market Update May 2017

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Home prices have continued to rise locally and inventory has continued to decline, making this a potentially lucrative time to sell a home. Homes that show well and are priced correctly have been selling quickly, often at higher prices than asking and with multiple offers. There is typically an increasing amount of buyer competition during the annual spring market cycle, and …

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April 2017 Real Estate Market Update

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The start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. At the same time, housing prices have continued to rise, and the low inventory situation and affordability crunch has been particularly hard on first-time buyers struggling to get into the market. Nevertheless, buyer activity is …

March Real Estate Market Update

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The start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. At the same time, housing prices have continued to rise, and the low inventory situation and affordability crunch has been particularly hard on first-time buyers struggling to get into the market. Nevertheless, buyer activity is …

Mortgage Rates Impact on 2017 Home Values

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There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage …

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Why Sell My Home Now and Not Next Spring?

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As December rolls around, some would-be home sellers assume they’ve missed the opportunity to sell their home during the winter. “I guess I’ll have to wait to sell my home until the spring,” becomes the mantra for many. Yet does that really make sense? We know that the price of any item (including residential real estate) is determined by “supply and …