Is Now a Good Time to Buy or Sell Real Estate?
“How’s the Market?” is the most common question a real estate professional hears. More than two-thirds of Americans say that now is a good time to buy real estate. Here is an overview of National Housing Market Trends. Contact me any time if you want the scoop on our local real estate market.
- 40% of Americans say that now is a good time to sell
- 70% say it’s a good time to buy
Home Prices are Up
- Median existing home price in June 2014 was $223,300, up 4.3% from June 2013
- The average sale price of a new home sold in May 2014 was $319,200
- 48% of Americans feel that home prices will go up in the next 12 months
What was the Home Ownership Rate in Q1 2014?
Home Sales are Up Also
- In the past year, existing home and condo sales rose 11%, to 5.29 million, close to the highest level in 4 years
- Sales of new single-family homes rose 8.3% in June, and reached a seasonally adjusted annual rate of 497,000 units, the fastest sales pace in five years
- Existing home sales increased 2.6% in June 2014, and have reached the highest sale pace since October 2013
For the full report, including a generational breakout of who is buying and selling homes, and why your Local Real Estate Market stats are essential to know, download the full report.
Let us know if we can assist you with your San Diego real estate needs. We’re at your service.