Happy New Year!
I wanted to share with you the latest information of the South Bay new home sales from 2016. Also, see what 2017-2018 holds for new home pipeline.
Happy New Year!
CoreLogic reported in late December that home buying saw the fastest November in more than four years even though the month’s sales totaled 7.5% below 1988 month average. The surge in sales increased what buyers paid. Our relatively robust local job market created more job opportunities along with pay hikes nationwide. Fewer absentee buyers were reported. Mortgage financing was not used in 21% of the deals.
For full report, click HERE!
“Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.”
Click HERE for complete article, plus inside market info!
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