Fullerton has been on an upward swing for the year and it doesn’t look like it will be stopping soon. All indicators are up. There has been an increase of homes for sale, homes in escrow and homes that have sold. What is going to keep Fullerton home prices up will be the huge decrease in total available homes for sale or months supply of inventory. Strictly, this upswing is total supply and demand.
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 17.8 percent for detached homes and increased 56.5 percent for attached properties.
- Pending Sales (homes in escrow) increased 54.5 percent for single family homes and 39.3 percent for townhouse-condo properties.
- The Median Sales Price was up 25.8 percent to $590,000 for detached homes and up 20.4 percent to $319,000 for attached properties.
- Months Supply of Inventory (total available homes for sale) decreased 64.3 percent for single-family units and 66.7 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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Fullerton Homes For Sale
(Contact me if you are searching for a specific property or property type – 714.989.6040)
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