The overall tempo of real estate potential is benefitting from a number of positive factors. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.
With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen. It most likely will before year's end. Until then, get out and enjoy the season... before El Nino comes!
New Listings were up 3.6 percent for detached homes and 1.3 percent for attached properties.
Pending Sales increased 4.6 percent for detached homes and 17.7 percent for attached properties.
The Median Sales Price was up 4.4 percent to $715,000 for detached homes and 11.3 percent to $425,000 for attached properties.
Months Supply of Inventory decreased 21.4 percent for detached units and 32.4 percent for attached units.
For the latest news on what's happening in your individual communities (in both Orange County and Long Beach), grab the OC FastStats Market Reports.