Valencia, California Home Prices Are Rising Due to Low Inventory
A lower housing inventory means greater home prices. Today, we have the lowest number of available homes for sale in a year. Home prices listed for sale have increased over 12% during the same period.
When will this story end?
- Awesome financing is available to those who qualify.
- Reduced inventories of quality homes are generating multiple offers.
- Home prices are still drastically reduced.
- And there is nothing “short” about Short Sales.
Santa Clarita “Real-Time Market Reports” are available by zip code within the Santa Clarita Valley for FREE.
Its a false low inventory as banks are not foreclosing in a timely fashion, due to a variety of factors, some of which they can control and some which they cannot. Also, tax credit expiration April 30th combined with mortgage resets and the forementioned foreclosures coming on market will humble the sellers in the summer and fall of 2010. Buy later…….not now!
Alan, thank you for posting your comment. Yes, we keep hearing about the “shadow inventory” of approx. 2 million foreclosures to hit the market. If and when that does, home values are sure to decline, but what if it never comes? If buyers wait to purchase homes, their mortgage interest rates are sure to be higher. It’s all relative.