The National Association of Home Builders Housing Market Index was reported for October and set another record high. Builders are feeling good but do feel constrained on expanding due to lack of land, labor, and spike in material costs. Housing Starts were up 2% but were below expectations of 5% gain. Year-over-year, Housing Starts are up 11% and Single-family homes are up 22%. Existing Home Sales were up 9.5% in September and year-over-year sales are up 26% which is the highest pace since 2006. Nationally, inventory remains tights with only 2.7 month’s supply of homes for sale on August and is down 19% year-over-year. Southern California is not the only one with the lack of inventory. The Median Home Price was up to $311,800 and is almost 14% higher than last year. The average time on the market was only 21 days on average.
About the Author
Ryan Christensen
Responsive, Responsible and Resourceful - How Real Estate Should Be. This is the foundation of our continued success: responsive service, providing accurate and timely information, and demystifying the process. 100% of my business is referral based because I listen to my clients' needs and exceed their expectations. As a full-time real estate broker, I am the best advocate for both my buyers and sellers. I am always available, regardless of the time of day.
Being a native Southern Californian is a tremendous advantage. I know the area. Time is more valuable than money, but neither can be wasted. And, I'm a fan of hard work. My clients can enjoy their home buying and/or selling experience because I provide a trusting, focused, straightforward approach. I look forward to helping you achieve your goals and find joy in homeownership.
I am both a licensed Real Estate and Mortgage Broker. Others choose to concentrate on one or the other. I provide a higher level of service and expertise than those who do not obtain this dual skill set, which differentiates me from other service providers. My decisions and advice are based solely on what is in the best interest of my clients. I use Real Estate Sales as a tool to make sure my clients get the home that meets or exceeds their needs. As a Mortgage Broker, I search for the best loans so I can offer lower rates and pricing than my financing competition. This certainly IS in the client's best interest.