Market Stabilizing? Home Inventories Fall by Nearly 20%

Most area's of LA the inventories are down 50% from a year ago !!

If you are looking to sell, now is the time !!

Call me and we can talk about your home, what will be a great sale price and any other questions you have.

Have a great day, Best Sindy

Daily Real Estate News | Friday, May 25, 2012

Home inventories of for-sale listings continue to fall, which may help raise overall housing prices as demand picks up.
Inventory of for-sale single-family homes, condos, townhouses, and co-ops dropped by 18.85 percent in April compared to a year ago, according to housing data of 146 metro markets tracked by REALTOR.com.
“These key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery,” REALTOR.com notes in a release on its April housing data. “Lower inventories, combined with faster moving markets and relatively stable median listing prices are indicative of the kind of balanced housing market that has not been seen in many years.”
On a national basis, the median age of inventory dropped nearly 12 percent year-over-year. The median age of inventory dropped by the highest percentages in the following metro areas:
1. Oakland, Calif.
Median age of inventory: 20
Year-over-year drop: 54.54%
2. Miami
Median age of inventory: 41.08%
Year-over-year drop: 76
3. Fort Lauderdale, Fla.
Median age of inventory: 36.19%
Year-over-year drop: 67
4. Seattle-Bellevue-Everett, Wash.
Median age of inventory: 34.28%
Year-over-year drop: 46
5. Pensacola, Fla.
Median age of inventory: 33.33%
Year-over-year drop: 106
By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

Home Prices to Rise 4% Per Year?

Daily Real Estate News | Wednesday, May 09, 2012

Have home prices finally hit bottom? Many analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years.
The real estate markets expected to see the biggest increases in home prices will likely be those hardest hit the last few years by foreclosures, such as in Phoenix and Las Vegas, and areas where prices have fallen the most, according to Fiserv’s forecast.
Housings rising affordability mixed with falling inventories of for-sale homes are the main factors driving the expected price increases, according to Fiserv.
Initially, investors are expected to help drive most of this price increase, and then followed by first-time and trade-up buyers as they re-emerge in bigger numbers to the market.
Source: “U.S. Home Prices Could Rise 4% a Year, Forecast Says,” USA Today (May 8. 2012)