March 2014

5 Southern California Real Estate Trends to Expect in 2014

1) Mortgage rates will go up. 2) Home values and prices will increase. 3) Fewer investors buying up properties and more buyers looking for primary residences. 4) Seller’s market will continue but cool off. 5) Condo sales will increase.

"As the country moves on from the recession, this year's report identified 20 markets where a 4-bedroom/2-bath home costs more than $1 million, whereas in eight markets a similar home lists for less than $100,000," stated Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC.

Out of the top list of 25 most expensive and 25 most affordable housing markets in the U.S., California has 13 cities out of the first 22 listed as the most expensive cities to live in, which are: (listed from most expensive); Malibu (1), Newport Beach (2), Saratoga (3), Los Gatos (4), San Francisco (5), Cupertino (7), Redwood City (10), Sam Mateo (12), Pasadena (14), Sunnyvale (17), Santa Barbara (18), and Campbell (22), with a price range from $2.156m to $974,212, respectively.

November 2013

"The U.S. housing market is in a completely different position than this time last year, with solid price increases, steady inventory and strong demand continuing well into the fall season, according to realtor.com's National Housing Trend Report for October 2013. Home prices in October were relatively unaffected by the usual seasonal patterns and national inventory is stabalizing after the dramatic declines seen earlier this year," as stated by Realtor.com.

According to the California Association of Realtors (CAR), the housing market in California should see an increase in sales for 2014. It is projected that median home prices will increase by 6% next year with homebuyers who have been out bid by investors in the past, ready to buy their dream home.