One of my clients asked me yesterday about whether or not I thought we were in another “price appreciation bubble” for Palos Verdes Estates home prices. Let’s get one thing clear here, I have no crystal ball and as they say, "past performance is no guaranty of future results"
However, one of the benefits you have of choosing me as your broker is my experience and knowledge of the market based on facts. Here's an example of the kind of data at my finger tips that I use for my clients' benefit
Palos Verdes Home Prices
If you look carefully, you will see that since the early 90s there have been 2 downturns in the market. And the appreciation cycles have been about 7-8 years or so. The up cycle we're in now is only 2 or 3 years young. What's even better is the supply side of the picture.
Go to my blog http://www.bestpalosverdeshomes.com/blog and look at the 3/17/2015 post. At the bottom of the page you will see that supply of homes coming to market is not only down, but is at the lowest listing volume rates in decades. There is such an imbalance in the supply side, that with demand as strong as it is (even if/when rates go up with the economy slowly improving) it will take years for an equilibrium to take place.
In my studied opinion, strong price appreciation is "baked in" to this cake we call a real estate market. I welcome your comments.
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Palos Verdes Homes from $1,250,000 to $2,250,000
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