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Simi Valley Home Sales Chart for June 2009

Simi Valley Home Sales for June 2009

The above chart is the activity for Simi Valley detached home sales in June 2009. The condo - attached market is reacting differently and should not be included in a market activity report for detached homes. The continuing trend of brisk sales in the low end of the market is no surprise. This trend is very fragile relying on

Historically low inventory
Historically low interest rates
Government tax credits and incentives

We saw in the hot markets of 2004 that when interest rates went over 6.0% that sales slowed. An increase in inventory and/or interest rates would really upset the hype we are seeing on the low end. We have not hit the bottom of this market and a recovery is far off in the distance. the Chart above is a tell tale that no balance has returned. This is a time to make a smart purchase and bad time to buy on impulse or a feeling that you will be locked out.

There is still much future trouble ahead in the market with bad loans, rising unemployment and a state government that is spending itself into bankruptcy will all negatively influence the housing market for several years to come. For one of the problems that will start hitting us next year see: http://homebuysblog.com/2008/10/15/adjustible-rate-mortgage-reset-schedule/

A full video report will be coming soon at http://www.HomeBuysBlog.com

Posted by Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent on 07/19/2009 07:07 PM

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