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CA Home Sales hit Six Year High


Posted on 03/31/2017

California is performing well as it heads into the spring homebuying season, at least in terms of homes under offer.

According to the latest California Association of Realtors report, pending home sales in the state soared in February to record the first doubled-digit annual gain in nearly three-year and the third straight year-to-year increase. This should hopefully translate into improved market conditions and more closed transactions in the coming months. 

As a whole, California pending home sales increased in February, with the Pending Home Sales Index growing 24.8% from a revised 89.9 in January to 112.2, based on signed contracts. The month-to-month increase easily topped the long-run average increase of 17.9% observed in the last seven years. 
Statewide pending home sales were up 15.6 percent on an annual basis from the 97.1 index recorded in February 2014. The yearly increase was the largest since April 2009 and was the first double-digit gain since April 2012.

Click to enlarge

Home Sales By Region


This comes as good news for the state since it is infamous for having a tough housing market to enter.

Dwight Johnston, chief economist for the California Credit Union League, explained that California is not changing anytime soon. There is no movement to loosen the problem in the states, and if anything, there are people who are restricting changes.

His tip for how to afford living in California: save.
 
In the old days, people didn’t need to put as great of an emphasis on saving, Johnston explained. However, now it really requires incomes to rise and people to save more. Saving for a down payment, allows for a better loan-to-value ratio, keeping a borrower safer from risks of defaulting.

Improving market is good news for the Real Estate Industry professionals. It translates in more sales and growing commissions for Real Estate agents. We are seeing more and more people inquiring about and starting the process for getting a Real Estate License.

Freedom Busienss School offers exellent Exam Preparation courses for both Salesperson's and Broker's License exams. Unique organization allows students to quickly master State exam topics by reviewing 16 concise "Fast Fact summaries and related sample questions with answers and detailed explanations. The courses also include specially designed practice exams to simulate the experience of the State Exams: same format, same number of questions, same time limits. This allows our students to test their knowledge while refining their test-taking strategies. Plus, our Audio and Video lectures provide in-depth instruction from a team of eight real estate professionals - including a real estate lawyer, an accountant, a developer, brokers, and other credentialed instructors.

  

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