by Huntington Beach Realtor – Scot Campbell – Previews Property Specialist – Coldwell Banker Previews International 1/16/2014
The California Association of Realtors (C.A.R.) conducts a survey of Home Sellers each year, and then publishes the information for consumers and market participants. There are always useful insights in the report:
Home sellers are more optimistic about repurchasing a home than in the past few years, thanks to strong growth in home prices, record-low interest rates, and better personal financial situations, according to C.A.R.’s “2013 California Home Sellers Survey.”
More than two-thirds (69 percent) of home sellers purchased a home after selling their previous residence, up from nearly half (47 percent) in 2012, and from only 12 percent in 2011.
Nearly half of sellers (43 percent) believe that home prices will rise in one year, compared to just 9 percent in 2012, and nearly three of five sellers (58 percent) believe home prices will increase in five years, up from 12 percent in 2012.
The reasons for selling changed significantly in just one year. In 2012, the majority of sellers sold primarily because of financial difficulties, but as home prices surged, a desire to trade up became the top reason for selling in 2013. Others wanted to take advantage of low interest rates to finance their next home, and some sellers believed the price of their home had peaked and wanted to cash out. More info
C.A.R. also publishes “Fast Facts”, here are some of their recent findings:
Calif. median home price: November 2013:
- California: $422,210
- highest median home price by region/county Nov. 2013: Marin, $942,070
- lowest median home price by region/county Nov. 2013: Del Norte, $135,000
Calif. Pending Home Sales Index:
November 2013: Decreased 13.6 percent from 108.6 in October to 93.8 in November.
Calif. Traditional Housing Affordability Index: Third Quarter 2013: 32 percent (Source: C.A.R.)
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For questions about buying and selling real estate in Huntington Beach and Coastal Orange County, contact Scot Campbell.
He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA.
Scot is a Previews Property Specialist, has been a licensed for over 27 years, and has brokered over 1000 homes… including just about every type of transaction imaginable.
Read his profile and client reviews at www.ScotCampbell.com