The California Association of Realtors (C.A.R.) reported 5-22-2012 that, although pending home sales in the state fell from March to April, other statistics indicate a good start for the housing market in California.
could be a contributing factor to lower pending sales
,” said LeFrancis Arnold, president of C.A.R.
“The tight inventory
we’ve been experiencing in the distressed market
over the past several months is now spreading to equity properties
, essentially affecting the supply conditions of both the distressed
and non-distressed markets
The share of equity sales
(non-distressed property sales
) compared with total sales increased to 58 percent inApril
, its highest level since July 2008
. This figure is up from March’s
54.5 percent and last year’s 52.3 percent.
Shares of distressed sales
(composed of foreclosures
and short sales
) in California
decreased in April
percent, down from 45.5 percent in March
and 47.7 percent the previous year.More good news!
On Tuesday, the National Association of Realtors
reported existing home sales
in April rose
4.4 percent from March
and 10.0 percent from April
2011.The Bottom Line:
in distressed markets
. chief economist Leslie Appleton-Young
said that, inventory scarcities
aside, the market got off to a strong start
in spring. “One thing is clear, we’ve got the best start for the housing sector
that we’ve seen in 5 years
,” she said.
The housing market is turning around and now is the time for you to buy!!
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(562) 201-1026 email@example.com