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Home Sales up due to Job Market & RE Inventory

By Marlene Dietrich

Real Estate Agent with Marlene Dietrich Real Estate DRE #01291332

August 26, 2014 08:43 AM

Home Sales up due to Job Market and RE inventory

According to the Association of REALTORS® Sales of homes have risen for the 4th month in a row. Smaller price increases, lower interest rates and rising apartment rents. The Job Market has gotten better, and even though there have been claims of housing affordability declining, Homes used to sell for $325,000 at 10% and you can still get the same home for about $650,000 to $700,000 at 4.125% so where is the loss of affordability.

There are loans available for 5% down conventional, and if you are moving or moving up in the next 5,7 or 10 years you can bet an even better interest rate. Some buyers want to pay off they home in 7-10 years so they use this to keep their interest rates down and pay the Principal off much quicker to become debt free, which is what Dave Ramsey Preaches.

Distressed homes have dropped from 15-9% which is a big fall from October 2008s tracking. In 2009 35% of all sales were distressed home sales and now it is down to 9%. We are moving in the right direction. Homes here is the West have risen 2.6% with a 6.3% medium price increase. Don’t forget we are talking about the West, Orange County is much better.

For a knowledgeable agent who will get the job done, contact MarleneDietrich@Realtor.com 949-400-1099 www.MarleneDietrichRealEstate.com

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