Mission Viejo Market Statistics for November
by John Alesi, Mission Viejo REALTOR®
Mission Viejo CA Real Estate
A Positive Spin On The News
In January of this year (2008), the California market had a 15.2 month inventory of homes; in November it was down to a more manageable 5.9 months. A typical seller's market is when the supply of homes is less than 6 months.
The number of transactions are up 65% from September 2007 compared to September 2008. October sale from 2007 to 2008 are up 111%.
Regarding mortgages and how the media paints such a dismal picture, 30% of all homes, nationwide, have NO mortgage. Of the remaining homes with mortgages, 97.2% are NOT in foreclosure. Quite a different perspective than the miopic reporting of the news media.
John Alesi - REALTOR®
CENTURY 21 Superstars
Search the MLS at: www.YourOCHome.com
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