CA Home Sales Hitting Record Levels
The state of California has recently seen an increase in home sales that surpasses numbers before the market crisis. Sales for September 2013 were up 5.9 percent from the same month last year. A total of 36,027 new and used homes and condos were sold in the month of September 2013.
What Does This Change Mean For You?
This increase in sales and other indicators show that market distress is on the decline. We are also seeing foreclosure activity dipping well below numbers from the same time last year and the peak levels that were reached 5 years ago.
Mortgage payments are also down overall. The average mortgage cost that California buyers paid in September 2013 was $1429, down from $1456 in August 2013. When the number is adjusted for inflation, September’s payment was down 38.1 percent below the average mortgage payment in 1989.
For someone who knows the California market better than anyone, visit Santa Barbara real estate expert Karen Spechler online today. As a Santa Barbara native, Karen knows this stunning beach community inside and out. If you are looking to buy or sell a home in the Santa Barbara area, contact me today!