Skip to main content
CALIFORNIA HOME SALES REACH HIGHEST LEVEL IN TWO YEARS, EXPERIENCE FIRST DOUBLE-DIGIT INCREASE SINCE MAY 2012

Sales of existing, single-family homes in June reached the highest level in two years and experienced the first double-digit increase since May 2012. The median price of an existing, single-family detached California home edged up in June from both the previous month and year for the fifth consecutive month.

Comments

Post a Comment

Popular posts from this blog

Most Expensive U.S. Home Sale Ever: Billionaire Ken Griffin Closes On $238 Million New York Penthouse

A Manhattan penthouse is now the most expensive home ever sold in the United States. Hedge fund billionaire Ken   Griffin closed on an apartment under construction at 220 Central Park South this week for around $238 million. A spokeswoman for Griffin confirmed the sale, which was originally reported by Wall Street Jurnal  The deed is not yet available in city property records.  The figure destroys the previous New York City record of $100.47 million set in 2014; Computer billionaire Michael Dell was recently exposed as the owner of that penthouse in nearby ONE57. The prior national record was also set that same year when Barry Rosenstein, another hedge fund billionaire, purchased an East Hampton spread for $147 M. Since then, nine-figure sales have been largely concentrated in and around Los Angeles.  However, Griffin, with a net worth of $9.9 billion, is no stranger to massive real estate purchases. Just this week it came out that he spent $122 ...
Post a Comment
Read more

Los Angeles, Orange County home price gains smallest in 6 years

Two new home price indexes provide further evidence Southern California home prices are softening amid slower sales and rising inventory. The S&P/CoreLogic Case-Shiller Home Price Index released Tuesday, Jan. 29, shows house prices were up 4.4 percent year over year in November in Los Angeles and Orange counties. That’s the smallest gain since September 2012. Meanwhile, the separate and more comprehensive CoreLogic Home Price Index released earlier this month showed house prices up 5.2 percent from year-ago levels in Los Angeles County and the Inland Empire. House prices rose 3.3 percent in Orange County. Those are the smallest gains in L.A. and Orange counties since the summer of 2012 and the smallest gain in the Inland Empire since the summer of 2015. Case-Shiller figures show appreciation is falling in the nation as a whole as well. The firm’s National Home Price Index showed U.S. home prices up 5.2 percent in November – the eighth consecutive month of slowing ...
Post a Comment
Read more

Some home shoppers are calling it quits, convinced that prices have peaked

Two years ago, Mike Saavedra moved to Southern California, equipped with a new high-paying healthcare job and a plan. The former Arizona resident would rent by the beach while becoming familiar with neighborhoods where he may want to purchase a house. But a few months after starting his search, the Manhattan Beach renter cut it off. It was, he decided, the wrong time to buy. “I definitely think home prices are slightly overinflated,” Saavedra, 48, said. And he thinks there’s a good chance they’ll fall. “I would kind of like to wait and see if that happens.” After nearly seven years of sometimes fevered price hikes, the Southern California housing market has  slowed markedly  in recent months. Sales have fallen from year-ago levels and price appreciation has shrunk. In Los Angeles and Orange counties, year-over-year price increases peaked at 8.2% in April and have declined every month since. In October, home prices in those counties rose 5.5...
Post a Comment
Read more