March 2014

Found 2 blog entries for March 2014.

In the most recent National Community Preference Survey conducted by the National Association of Realtors real estate buyers were asked what features they consider important when selecting a neighborhood to purchase a home. Following are the most popular responses along with the percentage of participants who agreed.
Privacy from neighbors – 86%
Sidewalks and places to take walks – 80%
High quality public schools – 74%
Walking distance to places such as schools and shops – 69%
Easy access to the highway – 68%
Established neighborhood with older homes and mature trees – 66%
Living in a community with people at all stages of life – 66%
Public transportation within walking distance of your home – 65%
Short commute to work – 65%
Living in a place that’s

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The real estate market has certainly seen its share of changes along with new activity over the past several months. From increases in inventory to higher interest rates to newly implemented mortgage qualifying guidelines. These changes make good argument that sales should start slowing down.

We can track how fast a housing market is moving by measuring its absorption rate or market velocity. This is done by dividing the number of homes now available by the number of homes that have gone under contract over the past month. The ratio tells how long it would take for all homes on the market to sell at the current rate of sales.

Here’s a look at Santa Barbara’s current market velocity and how each price range has changed since last February.


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