This market report is for for Anaheim, Ca for the sales activity from April thru September, what we call the summer activity. It has been a really busy summer and home sales have been brisk. Infact there is a shortage of homes for sale. The inventory has been real low when we compare our inventory levels of 6 months or 8 months just a few years ago. When inventory is high, price of homes remain low and may even go lower if more homes come on the market. A normal market in our area is anywhere from 4-6 months supply of inventory. As you can see from the chart, our current inventory is down to historic lows of less than 2months. These low inventory levels have remained so for the last few months.
As you have seen and probably got shocked, in just the last week, our auto fuel prices in Southern California has gone up anywhere from 50 cents to almost a dollar per gallon within 10 days! The reason for the high high gas prices in such a short time? low supplies of gas! So if we have low inventory of homes, prices are bound to go up. Infact home prices have already gone up in 2012. Add the historic low interest rates of under 3.5% fixed, the prices are bound go up. So as the inventory remains low, expect home prices to go up.
If you would like more information on the Real Estate activity or a market evaluation on your home, visit us at:
Feel free to call or email us. Mike Patel Prudential Ca Realty dre 01513323 Mike@MikePatel.com 714.470.8600