A renewed urgency has overtaken California real estate, particularly in Orange County and cities such as Brea. Virtually every major factor is up compared to the previous year. And the frequency of home sales in Brea, low inventory and decreased number of foreclosure sales continue to heat up the buying frenzy, which will only pick up even more speed in 2013. Record lows in interest rates and mortgage borrowing promise to keep a surging California real estate market soaring in the new year. Such attractive rates will not only spur new inventory to be placed on the market but also invite more buyers and sellers who have been waiting for signs of a revitalized real estate market before entering the fray.
And even if inventory remains low, demand shows no sign of slowing down, especially in Orange County and cities like Brea. Nationwide, it seems that home buying interest has regained momentum but California specifically seems to be growing by leaps and bounds:
- Overall home buying has increased over 10%
- New home sales grew by 25% compared to the previous year
- The median price for homes has surged by nearly 12%
- Single-family residential construction has picked up by 43% while new apartment builds have grown by 19%
Lastly, prices continue to rise and that should prompt home owners who have been holding onto inventory to place their properties on the market. This increase in supply can only motivate would-be investors waiting for a more promising outlook.
In short, considering any of the number of Brea homes for sale will be an intensive process requiring patience and in-depth research. Partnering with an informed ally will be of the utmost importance. I’m here and ready to help just as I’ve helped hundreds of other buyers looking for luxury real estate in Brea. I’m eager to get you started on your journey. Give me a call today.
City of Brea Real Estate
Personalize your search and have access to all homes for sale in the City of Brea within the Multiple Listing Service HERE
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