Real Estate Newsletter and Market Update for May 2013 – Nancy and Heather Cloward

The Cloward Team

Orange County Real Estate – Nancy & Heather Cloward – Real Estate Newsletter – May 2013

The Cloward Team

Orange County Real Estate, Nancy & Heather Cloward – Real Estate Newsletter – May 2013

The Cloward Team

Nancy & Heather Cloward – Real Estate Newsletter – May 2013

Surterre’s Weekly Financial and Market Update

Week Ending 4/23/2013

“Glass Half Full” Perspective

“PRICES AND SALES VOLUME”

For the month of March…

Prices

Resale Homes          up 22.1%

New Homes              up 13.5%

Resale Condos         up 28.8%

Sales Volume

Resale Homes          up 10.1%

New Homes              up 38.3%

Resale Condos         down 4.1%

Median Price $505,000 up from $400,000 a year ago

Sales Volume 3,063 up from 2,856 a year ago

O.C house payments $2,095 up from $1,779 a year ago

“CALIFORNIA HOME PRICES, SALES INCREASE”

Home prices across California jumped 8.3% in March compared to February and 24.7% compared to a year earlier.

There has been a shift in psychology, where more people worry prices will rise and fewer fear a decline.

 By: Andrew Khouri

“O.C. MEDIAN TOPS $500,000”

March midpoint prices rises 26.3% from 2012, largest annual increase since 2004

By: Jeff Collins

“HOME LISTINGS UP 6%”

Analyst attributes rise in O.C. inventory to higher prices. Listings overall, however remained near the nine-year low. As of Thursday, 3,407 homes were listed for sale through the MLS. That compares to 6,354 homes for sale at the same time last year.

By: Jeff Collins

“SALES UP IN MID – AND HIGH-END HOMES”

Competition among buyers remains fierce…

By: Jeff Collins

“HOUSING STARTS SURPASS 1 MILLION IN MARCH”

Homebuilders break the mark for first time since 2008, a sign of continuing recovery.

“INVESTORS GO ALL IN ON APARTMENTS”

Being a landlord is an attractive alternative to volatile stock market and low CD rates

By: Richard Clough

“OFFICE VACANCY RATE DROPS”

The trend will continue through 2013.

By: Richard Clough

“IS L.A. HOUSING MARKET TOO FROTHY”

A shortage of homes for sale has pushed region from recovery to frenzy, experts say. Los Angeles is one of the “bubbliest” housing markets in the U.S., second only to Washington, D.C.

By: Alejandro Lazo

HOUSING MARKET JUMP BOOST OVERALL ECONOMY

An upswing in local property markets – Painful for some, such as renters and or house shoppers.

By: Jonathan Lansner

“STATE NUMBER 3 FOR HOME PRICE GAINS”

California and its big metro areas are at the forefront of the nation’s housing recovery. California’s (15.3%) overall home prices appreciation was No. 3 in the nation, behind Nevada (19.3 %) and Arizona (18.6%). The nation’s average was 10.2 %.

By: G.U. KRUEGER

“O.C. BUSINESS SALES RISE 15.7% FROM A YEAR AGO IN MARCH”

It’s the seventh straight month with increases from same period in 2012.

By: Jan Morman

Surterre’s Weekly Financial and Market Update

Week Ending 4/23/2013

“Glass Half Empty” Perspective

None

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