MarketWATCH Porter Ranch: 4/9/16

By
Real Estate Agent Cal BRE# 00923192

Sales Contracts Hit Highest Level in Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

So last week, I gave you the doom and gloom about buying in a HOT market. 
Now here's a slightly different perspective that shows that buyers are still 
buying!

 

The National Association of Realtors (NAR) just announced that the February
Pending Home Sales Index reached it’s highest reading since July 2015.

This index means that  more contracts have been signed by buyers that will 
soon translate to sales. February’s Index rose 3.5% month-over-month to 
109.1.

 

What does this mean for the market?

 

Lawrence Yun, NAR’s Chief Economist explained:

"After some volatility this winter, the latest data is encouraging in that a 
decent number of buyers signed contracts last month, lured by mortgage 
rates dipping to their lowest levels in nearly a year and a modest, seasonal 
uptick in inventory." "Looking ahead, the key for sustained momentum and 
more sales than last spring is a continuous stream of new listings quickly 
replacing what's being scooped up by a growing pool of buyers. Without 
adequate supply, sales will likely plateau."

 

So What Does This Mean For Buyers?

 

There is a lot of competition out there right now for your dream home. Prices 
are going to continue to climb, act now before you are priced out of your 
future home. [My advice: Talk to me, let's be reasonable about this] If you're 
really wanting to buy right now, let's sit down over a cup of coffee and set out 
our plan.  First things are first though, let's see how much home you can truly 
afford based on your income and your comfort zone, simply ask for our Free 
Home Loan Report, and we'll get the ball rolling. CLICK HERE


Now, let's look at what's for sale this week.

 

There were 9 new listings this week in Porter Ranch. They range in 
price from $479,000 -$849,000; size 1551sf - 2959sf; age from 
1960 - 2004.

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check out all the new listings this week in Porter Ranch – HERE

 

 

 

 

Warmly,

 

 

 

 

 

 

 

 

 

Anne-Marie Stone
Pinnacle Estate Properties
Cal BRE# 00923192

Comments (3)

Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Anne-Marie Stone Thank you for taking the time to share this report.  This is great information for buyers and sellers alike.

Apr 09, 2016 03:54 AM
Anonymous
Anne-Marie Stone

Jim Crawford, I'm glad you found this report informative! I appreciate your acknowledgement.

Apr 09, 2016 06:49 AM
#2
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Well presented and interesting market report Anne-Marie Stone  - we are now "following" you!

Apr 09, 2016 10:32 PM