If you’re one of the many who have been eager to purchase property in the South Bay but have found little inventory listed from which you could choose, the real estate market of spring 2014 is promising to put many more properties on the market as sellers finally realize their increased home values.
Property in the South Bay has gone up in value in the past 365 days. Just looking at the numbers for Manhattan Beach alone show us that 2013 was a great year for improving home values:
When sellers see their home values rise so steadily, they become more confident in putting their properties up for sale. This spring will finally prompt so many home owners to sell properties onto which they’d been holding, waiting for the housing market to improve. Well, it’s definitely improved!
The Wells Fargo Economics Group released its California Economic Outlook for February, 2014 confirming that home values are going to steadily climb. A recent California Association of Realtors (CAR) reports that the median price of an existing home rose 22.1 percent in January, a that job and income growth will continue to strengthen further, and the pace of property appreciation will be moderate.
While interest rates are still low, and while home values are moderately rising, this is the perfect time to buy a home in the South Bay. You know that property values will continue to rise once you purchase, but you will avoid higher interest rates by not waiting any longer.