April 2015 Home Sales Report ~ Sales are going strong!
2015 has seen an increase in home sales, which is yet another signal that the economy is continuing to improve. In fact, from January through April we saw both month of month and year over year home sales increases. So it’s fair to say that home sales are going strong in this seller’s market.
As of April, the year over year percentage of transactions increased by 6.5% and the average home sales price went up by 7.1%. Currently, the average home spends about 71 days on the market and there is approximately a 3.6 month inventory of homes for sale.
RE/MAX CEO, Chairman and Co-Founder Dave Liniger had the following to say about the beginning of 2015:
“The spring selling season got off to a very strong start. We saw a significant jump in sales in March, and now April has pushed even higher. With an improving economy and continuing low-interest rates, potential buyers are motivated to enter the market. These conditions, along with rising prices are also encouraging sellers.”
The lower supply of homes in places like San Francisco, CA, Portland, OR, Seattle, WA, and San Diego, CA are making these areas a true seller’s market with home prices on the rise and many buyers competing to get a home. In fact, nationwide the median sales price of a home has risen for 39 months in a row because of this constrained inventory.
With interest rates low and home prices set to continue their climb – now might be the perfect time for you to purchase your first or next home. If you would like to work with local community and real estate experts, then call Demarco and Marisa of The Hunter Group now! We can be reached at 951-515-7811 or 951-870-5183, respectively.