Real Estate is on Fire in Brea, CA

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Brea has been on fire and it doesn’t look like it will be stopping anytime. All indicators are up. There has been an increase of homes for sale, homes in escrow and homes that have sold. As long as there is a shortage number of homes for sale the demand will push up home prices. It seems like it will be a record year for Brea. It is time to sell Brea properties.

As potentially the brightest sun in the current economic recovery, housing  activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.

  • New Listings were up 62.1 percent for detached homes and increased  an astounding 250 percent for attached properties.
  • Pending Sales (homes in escrow) increased 54.2 percent for single family homes and 75 percent for townhouse-condo properties.
  • The Median Sales Price was  up 20.2 percent to $620,000 for detached homes and up 14 percent to $345,000 for attached properties.
  • Months Supply of  Inventory (total available homes for sale) decreased 60.5 percent for single-family units and 17.6 percent for townhouse-condo units.

The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 percent again but are not likely to reach 3.3 percent again.

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Brea Homes For Sale

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