Home Living Report – Fullerton Real Estate News by Diego Loya
Home prices in Fullerton have leveled off and there are signs that this trend will continue. Demand for housing has waned a bit as buyers have either stopped or put off looking for a home. Also, the inventory of homes for sale has increased. More homeowners have decided this is a good time to sell. Less demand and more homes to choose from, home prices have slowed.
Do you hear that? Hummmmm. That’s the delightful sound of normalcy. Buyers are buying, sellers are selling, lenders are lending and builders are building. Sure, this varies from region to region and even city to city within a region or state, but by and large, things are returning to normal. All major indices showcase fairly robust price recovery. Consumer confidence isn’t what it could be, but it’s sufficient for now.
- New Listings were up 9.8 percent for detached homes and a whopping 100 percent for attached properties.
- Pending Sales increased 10 percent for single family homes and increased 4.3 percent for townhouse-condo properties.
- The Median Sales Price was up 21.7 percent to $510,000 for detached homes and 55.5 percent to $337,500 for attached properties.
- Months Supply of Inventory decreased 38.9 percent for single-family units and unchanged for townhouse-condo units.
There’s some evidence that it’s not just first-time home buyers fueling the recovery. Move-up buyers are also pulling their weight. Some baby-boomers are ready to look for less space, nudging Junior out of the basement. The pizza boxes and late-night video games get old, plus there’s a fresh crop of buyers looking for a bigger space to raise their own little darlings.
Want to Sell Your Home?
Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040 firstname.lastname@example.org . [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”] *Data from PWR and includes Orange County and some surrounding areas.