More proof that we are on the mend. i have been saying for about the last year and a half that we have been scrapping along the bottom and now we are entering a new phase- UP!!!
Home sales and prices in May popped 9.3% from April and jumped 17.6% from May 2011 to total 41,790 new and previously-owned houses bought statewide. The state’s median home price hit $270,000, rising 2.3% from the prior month and up 8.4% from May 2011.
It’s not just first-time buyers and investors. There are more move-up buyers in mid- to high-end coastal counties.”
Home sales in have year-over-year gains for 10 consecutive months and foreclosures have steadily been making up a smaller share of the market.
In Southern California, we did even better.The number of homes sold ro 21% compared with last year, while the median price jumped 5.4%.
Are you going to wait until the top when it is most risky or are you going to get in now when the risk is the least?