Home Price Increase Slows Down to 7.2% as Sales Slacken, Inventory Grows
While activity remains strong as buyers enjoy the benefits of the largest inventory of homes listed for sale in years, sales of existing single-family homes in the Santa Clarita Valley fell off record high activity levels during June by 37.5 percent with 235 properties changing owners, the Southland Regional Association of Realtors reported on Thursday, July 20.
The decline in activity seems particularly steep because the 405 sales reported in June 2005 was the all-time record high and the market has changed dramatically – some say to the better – since then.
However, June home sales did rise from the May total by 8.1 percent, suggesting the local market is striving for a new balance and that buyers realize they have more negotiating power than at any time in the last four years. Read the rest of this entry »
