Current Market Numbers – July 2014
It’s no secret that the average housing price in Southern California has been continuing to rise and hit new highs, as the numbers show from DataQuick. Just last month (June), the median price has risen 7.8 percent from June 2013. While it may appear that there are great mortgage rates out there and a better economic situation across the board, we’re not seeing quicker gains in the overall average of prices on the market.
The problem is that there are not enough “real” buyers out there. The banks are buckling down on giving high-risk loans, which is obviously making it much harder for buyers to purchase the properties they desire at these high prices on the market.
Below you can find the sale and resale of both condos and homes in Los Angeles, Orange County, Riverside, San Bernardino, San Diego, and Ventura: