CA Equity Home Sales On A Roll

Four out of very five homes for sale in California were equity sales in July. This trend of traditional sales has been on the rise for 17 of the past 18 months according to the CALIFORNIA ASSOCIATION OF REALTORS®. Equity homes sales continue to dominate short sales and foreclosures which have decreased nearly 50% year over year.

With home values rapidly recovering in our area, more and more homeowners are finding themselves with the ability to sell their homes which may have been underwater just 6-12 months prior. The share of equity sales has not been this high since December 2007 just as the real estate market began it’s home price free fall. Conversely, short sales made up the lowest share of the market hitting a 4 year low.

These figures are a great indication that the worst is well behind us and are just beginning to get acclimated with a more traditional real estate market if there is such a thing. The supply of homes for sale continue to be an issue for home buyers yet I am seeing a slowdown in the pace at which homes for sale in Chula Vista are selling as well as around San Diego County.

About Daniel Di Matteo

Realtor at CENTURY 21 Award, Daniel was Voted U-T San Diego’s Best Real Estate Agent in 2014. A Husband, Father, and most recently, accomplished Blog writer, which explains your visit today.