With the U.S. housing market continuing to stabilize, this is an opportune time to get your real estate license and enter an exciting field that has continued to show an increase in activity over the past 12 consecutive months.
According to the Multiple Listing Service (MLS), the number of single family homes and condos listed for sale decreased in June 2009 from the previous month by 2.1%. The national real estate brokerage firm ZipRealty tracked an increase in the median list price in the country’s 28 major markets to $270,440 in June from $270,027 in May.
- Here are some other highlights from ZipRealty’s Housing Inventory Index, compiled from local MLS data, for June of 2009:
- Las Vegas, Los Angeles and Phoenix all recorded a decline in housing inventory, a factor which may have contributed to some homes receiving multiple offers.
- Median list prices have flattened or increased in Las Vegas, Phoenix, the San Francisco Bay Area and Los Angeles, a significant indicator of increased stabilization in those markets.
- The state of California is seeing the most dramatic drop in housing inventory with massive year-over-year inventory reductions. Los Angeles experienced a 53.9% decrease, while Bakersfield/Fresno traced a 56.2% decline.
“Affordability has been the buzz word in real estate this summer,” said ZipRealty President and CEO Patrick Lashinsky. “If the number of home listings continues to decline and buyer interest and activity remains strong, we should see sales prices and home values increase as we head into the fall.”
Housing affordability and selection, low interest rates and nationwide home buyer assistance programs like the $8,000 first-time buyer credit – these are prime examples of factors influencing fickle buyers.
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