| Spring 2006
Home
sales slowing down ?
The
current sales figures show that home sales are leveling
out according to the National Association of Realtors.
David Lereah, chief economist said that most of the
cooling of the housing market has already occurred
. We can expect a historically strong housing market
moving forward and stable home sales across the country.
The
median priced and lower priced homes are selling well
across the country; it is the very expensive homes that
have slowed down. But not everywhere. All the reports
of slowing home sales have been a national average.
Many areas are doing better than average and these are
mostly in the western U.S. This past year 48,666 homes
in California sold for over $1,000,000. This is an increase
of 47% from the year before.
Southern California continues
to be a growth state with sales bolstered by out of state
buyers and buyers from other countries. The price of homes
has gone up approximately 10% again this year. Southern
California continues to be a great place to purchase a
home for profits and pleasure. |