Real estate is sizzling in Fullerton, CA. Home prices have shot up and the amount of homes under contract in escrow have had a big jump. New homes have come on the market to replace those that have been taken off. I’ll say it again, if you are contemplating selling, do it! Don’t miss the boat. Real estate prices will not stay high forever and we cannot predict the future, all we know right now is sellers are walking away very happy.
It won’t be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there’s less incentive for these kinds of buyers, yet affordability for consumers remains attractive.
- New Listings were up 28.6 percent for detached homes and increased 56.3 percent for attached properties.
- Pending Sales increased 44 percent for single family homes and 85.7 percent for townhouse-condo properties.
- The Median Sales Price was up 25.8 percent to $565,000 for detached homes and 42.3 percent to $351,500 for attached properties.
- Months Supply of Inventory decreased 61.5 percent for single-family units and 54.8 percent for townhouse-condo units.
With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.
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 .
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Fullerton Homes For Sale
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