California Real Estate Sizzles

The California Association of Realtors June Housing Report states the median number of days on the market fell to 22.4 days in June, the fastest rate since May 2004, when it took 21.9 days to sell a home.
~ Los Angeles metro area registers a year-to-year sales increase of 8.3% .
~ New statewide active listing have declined for a full 2 years straight in June, falling 13.5% from a year ago.
Leslie Appleton-Young, C.A.R. Sr. President & Chief Economist said “While June home sales improved at a healthy pace, the growth in sales was prmarily in the mid-to higher-end price ranges.
~ Mortgage rates continued to dip since the beginning of the year. A 30 yr. fixed mortgage in June averaged 3.9%, down from 4.01% in May. The 5 year adjustable-rate mortgage edged up in June to an average of 3.14% from 3.12% in May.

Posted on August 31, 2017 at 3:11 pm
Nancy Low | Category: News

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