April 2011

Found 2 blog entries for April 2011.

With the national real estate market showing increased sales and affordability, Lawrence Yun, NAR chief economist, expects the improving sales pattern to continue. “Existing-home sales have risen in six of the past eight months, so we’re clearly on a recovery path,” he said. “With rising jobs and excellent affordability conditions, we project moderate improvements into 2012, but not every month will show a gain—primarily because some buyers are finding it too difficult to obtain a mortgage. For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows.”

NAR’s housing affordability index shows the typical monthly mortgage principal and interest payment for the purchase of a median-priced

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Are you kidding?  Real estate sales are up and inventory levels are down?  That’s not what the national news says!

The following numbers kid you not. Here’s a quick look at the Santa Barbara area real estate market over the past several years:

Year 2007:  1,375 properties sold. Year 2008:  1,142 properties sold. Year 2009:  1,233 properties sold. Year 2010:  1,328 properties sold.  

The number of sales are continuing to climb in 2011. Year-to-date figures already indicate a 7% increase from 2010 to 2011 in number of properties under contract. Another important figure to watch is inventory level, which is currently down 4% over the same time period last year. With sales up and inventory down the market is starting to see more multiple offer

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