The title for the August 2011 issue of the Prudential CA Realty San Diego Market Overview is “Record Affordability Improves Housing Sales”. Pending homes sales across the United States (pending – currently in escrow), a forward-looking indicator based on signed contracts, rose 8.2% in May after revised 11% decreased in April. On a year-over-year basis, pending sales are up 13.4%. In San Diego County pending sales increased by 3% in the month of June. For the month of June 95% of the homes sold for under $1 million dollars.
There is no question we have seen more activity in the real estate market recently, and it appears the affordability of homes has been a major factor for the improvement of housing sales. A few years ago the same buyers would not qualify to buy the homes they are currently buying because of the higher prices at that time. It’s a great time for buyers looking to buy for the first time, buyers looking for an investment property, or even sellers who have enough equity in their current home to sell and upgrade to a larger home or better neighborhood. Take advantage of the opportunity if you can now! You will be happy you did! See the link below for the complete article.
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