There is no doubt that 2014 has been a disappointing year for home sales in Santa Clarita and the greater Los Angeles area. There are many reasons. The simply answer to why is prices have risen too fast over the past two years. Homes are not as affordable to as many people. Income has been stagnant while prices continue to rise. We are seeing price reductions at an alarming rate. However this has more to do with homes being listed too high originally than dropping prices. Home prices do continue to rise but at a slow pace. Home owners are now selling for reasons that have nothing or little to do with distress. There are very few foreclosures or short sales on the market to compete with. Many well qualified buyers remain on the sidelines expecting prices to drop. We are in the midst of a recovering market and prices should be on the rise for the foreseeable future.
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Your Friends & Realtor,
Tony & Dani Lewis
Cell - 661-510-7975
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