Kathleen Finnegan

Interesting Statistics Category

San Fernando Valley property values continue to grow

The property values of all incorporated cities around the San Fernando Valley grew in the last fiscal year as real estate markets continued improving, according to a report from the Los Angeles County Assessors Office. Three cities, Santa Clarita, Glendale and Burbank, were among the 20 county cities with the highest roll, ranking fifth, sixth and ninth, respectively. Assessed value in Santa Clarita grew by 4.7 percent from a year earlier to $27.3 billion in 2015, the report said. In Glendale it grew... Continue Reading >

3rd quarter – market report

Are you in the market for a new home, thinking of selling your current home or are just curious about the market? The information I’m sending this month will give you the scoop on what’s going on in the national market. Is now a good time to buy or sell or both? Who’s driving household formation? Will there be an increase in new homes built? What’s the deal with home prices? This month’s information answers these questions and more to give... Continue Reading >

San Fernando Valley median home price hits $600k

The median price of a previously owned homes in the San Fernando Valley hit $600,000 in July, its highest level in eight years, and sales reached their highest total in 27 months, a trade association announced Thursday. The median price gained 15 percent, or $80,000 from a year ago, and is now 8 percent under the record high of $655,000 set in June 2007, according to the Van Nuys-based Southland Regional Association of Realtors. July’s median was the highest since $595,000 in... Continue Reading >

housing on track for best year since 2006

The residential real estate market, now at its midpoint in 2015, is on track for its best year since the peak of the housing bubble in 2006, notes realtor.com chief economist Jonathan Smoke. But as Smoke is quick to point out, this time it's not a housing bubble. That's because job growth is fueling the most recent climb in demand for homes. More than 3 million jobs have been created in the past 12 months. As job growth increases, demand has followed.... Continue Reading >

whats trending now in real estate

  The spring selling season is in full swing. Here's a breakdown of what you need to know about the state of the housing market. Home prices are surging Price growth is only increasing, due to a lack of inventory in some markets. According to Lawrence Yun, NAR chief economist "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels." Buyers in many areas need to be prepared for an increased... Continue Reading >

2015 market forecast : smoother sailing

After several bumpy years, the housing market should continue to smooth out in 2015, one of the nation’s leading housing economists says. In his predictions for 2015, Zillow chief economist Stan Humphries said he expects home values to rise 2.5% next year -- positive territory but well below the 6% clip seen over the last 12 months. That slower pace, coupled with home builders shifting to construct more houses at lower price points than they have been, should help pull more... Continue Reading >

September home sales rose to their highest level of the year!

The national housing market rebounded in September as home sales rose to their highest level of the year. After dipping in August, sales of previously owned homes climbed 2.4% in September to a seasonally adjusted annual rate of 5.17 million, the National Assn. of Realtors said Tuesday. Analysts polled by FactSet expected an annual rate of 5.1 million. Low mortgage rates, coupled with restrained price increases, boosted sales last month, the Realtors group said. “Traditional buyers are entering a less competitive market with... Continue Reading >

market update – at a glance

Home Prices Median home prices flattened in July, increasing only 0.4% to $222,900. This is up 4.9% from last year, continuing the summer's pattern of sustainable increases in home prices. Home Sales The pace of home sales rose 2.2% in July to a seasonally adjusted annual pace of 5.15 million homes. This is down 4.5% from the same month of the previous year; however, the portion of sales that were distressed is down to 9% from 15% last year. This means that conventional... Continue Reading >

home sales surge 6.1%

Pending home sales posted a sharp 6.1 percent rise in May, as lower mortgage rates and rising inventories helped propel the market into the summer season, according to the National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on contract signings. It was the largest month-over-month gain on the index since April 2010, when first-time home buyers were rushing to sign purchase contracts before a popular tax credit program ended. All four regions across the country posted increases... Continue Reading >

real estate market pulse

Southern California’s housing market perked up a bit in April, with sales rising more than usual from March and dipping below a year earlier by the smallest degree in six months. Home prices edged higher again but at a slower pace, the result of more inventory, affordability constraints and less pressure from investors, a real estate information service reported. A total of 20,008 new and resale houses and condos sold in Los Angeles, Ventura and San Fernando counties last month. That was... Continue Reading >