Santa Clarita real estate market

Santa Clarita red hot real estate marketThe Santa Clarita real estate market is red hot and is at last on the track to revival following many years of decreasing home prices. Santa Clarita home prices have climbed by 18 % during the last six months. The average sale price has increased from $347,174 in December of 2012 to $410,034 in June of 2013. This has been propelled by reasonably priced homes and historically low mortgage rates, drop in foreclosures and lowered unemployment each of which has assisted both the sale of new homes along with sale of previously owned homes. Several of the buyers that have hesitated to buy when prices were decreasing have made a decision to jump into the market
Santa Clarita home prices

Santa Clarita housing market improving

A growing number of experts are acknowledging stronger, a lot more favorable reports on the Santa Clarita housing market, which is excellent news for long-suffering Santa Clarita residents, who at long last see some increase in home values after five years of decline and degeneration in the real estate market.

Competitive real estate market in Santa Clarita

The present market conditions for home sales in Santa Clarita with increasing home loan rates, restricted supply and decreasing unemployment have actually driven an increasing number of buyers into an extremely competitive real estate market.Long gone are the days when you could show a Santa Clarita home buyer houses in the course of a weekend and be assured a sale. Smaller sized inventory has actually added to the increase of house prices. As there are less houses offered, home sellers can ask more. In Santa Clarita real estate market, bidding wars have come back.

Santa Clarita MLS numbers

All-new numbers from the MLS indicate that the number of new listing during June surged 100 percent from December of 2012 as more home seller are putting their home up for sale.
New listings in  Santa Clarita
The inventory however remains still very low. Currently the inventory in Santa Clarita is a 2 months inventory. In a healthy and balanced real estate market it is about 6 months inventory. Interest is way up and inventory is low. That suggests home buyers are all contending to bid on the couple of homes that are on the marketplace. A few of home buyers offer on residential properties without actually viewing them. In the most Santa Clarita neighborhoods, sellers are regularly getting multiple offers over the asking price.

New home construction is back in Santa Clarita

It is at the same time insightful to observe that when the economic downturn hit, single-family housing construction stopped. Today in Santa Clarita you can identify a number of construction sites of new units. With some luck this will relieve some of the pressure of finding homes in Santa Clarita.

Interest rates and the real estate market

Home loan rates have gone up in current weeks, however the rises aren’t anticipated to alter much the hot real estate market in Santa Clarita It will most likely drive the market even further, as buyers move rapidly to lock in mortgages prior to rates increase much more.

Article: The Santa Clarita real estate market is red hot
Author: Lauren Nemeschansky : Following me on Google plus
Source: Santa Clarita Real Estate Agent

The Santa Clarita real estate market is red hot

I am a local real estate agent here in Santa Clarita, a suburb of Los Angeles. I love to write about real estate buying and selling and address some difficult issues such as divorce and real estate, short sales, probate and relocation. I use the power of the internet and my blog to educate because in real estate “knowledge is power.” I will also enjoy some guest bloggers who are experts in their fields such as mortgage lenders, attorneys, and credit repair experts. Don’t forget to follow me on google+ and connect with social media sites!