Brea Home Prices Increasing
The median home price in the city of Brea has risen from the same time last year. More specifically, home prices in Brea have steadily increased since 12 months ago but since November 2012 home prices have skyrocketed.
Why? There has been a rapid drop in inventory levels across Brea. Simply, as the number of available homes goes down, prices increase – simply due to demand. The drop off in homeowners deciding to put their home for sale can be due to several factors.
- The winter and holiday season are typically the slowest months in real estate as homeowner are busy with the holidays and await the new year to take action.
- 2012 was an election year. With uncertainty of which direction the country will be led usually causes people to hold off on major decisions.
- The dreaded fiscal cliff. To add more uncertainty, elected officials and the media kept everyone on pins and needles as to if the country would fall off the cliff. A last-minute back door agreement was made but consumers mind had been made up. Wait and see what happens.
- Banks holding on the notorious shadow inventory. As banks and lenders struggle to move the great foreclosure shadow, more decisions have been made to help struggling homeowners or at least keep them in wait. This has caused housing inventory released to the market slow. Both short sales and bank owned REO’s have plummeted. This is good news to those homeowners and has created a great demand for available housing.
Fantastic News for Homeowners
If you have been considering selling your home. There has been no better time in recent memory to put your home for sale. Conditions are great to sell your home at top dollar. Buyers will be knocking down your door to accept their offer and will do just about anything to get it. As the past two years have been a ripe buyers market, it is now the turn of the seller to take advantage of these times.
Contact me for a personalized property evaluation for Free with no obligation. (714) 989-6040 diego@ehomeliving.com.
Brea housing market statistics are as of 1/11/2013. The statistics you see are the most current.
