Los Angeles Real Estate Sales rise for the first time since 2006
Over the last 3-years the Los Angeles Real estate sale have been at an all time low. Just recently, the sales shot up for the first time since 2006. In June, many homes were being purchased for well over $500,000, the highest in 30 consecutive months.
A total of 23,262 new and resale houses and condos closed escrow in San Diego, Orange, Los Angeles, Ventura, Riverside and San Bernardino counties last month. That was up 12.0 percent from 20,775 in May and up 29.0 percent from a revised 18,032 a year ago. Foreclosure remained a big force during the month of June, but the impact they had on the market eased for the third consecutive month. A relief for many in the Real Estate industry. Last months level of resale activity was at it lowest point since February 2009, at 45.3 percent of the southlands sales.
Sales of single-family residences priced at $500,000 and above rose to 19.6 percent of all existing houses sold in June, up from 18.0 percent in May but still down from 29.2 a year ago. The last time the $500,000-plus market made up more than 19 percent of sales was last October, when it was 19.9 percent. Sales of $500,000-plus houses dipped to as little as 13.4 percent of sales in January this year.
- This was the first time the median has risen that much since July of 2007, when the market was at somewhat of a peak, compared to the past few years.
The rising of the median can be looked at the light at the end of the tunnel, so to speak. It shows us that the market is not far off from being back to a more normal sales level. We hope that this shift will make it easier for homeowners to sell and buyers to purchase.
Investors, bought 18.6 percent of the Southland homes sold last month. That’s up from 16.1 percent a year ago but down from 19.5 percent in May. The monthly average since 2000 has been 15 percent. Southland homebuyers appearing in public records with “LLC” in their names, meaning a limited liability company, accounted for about 1.5 percent of June home sales (345 sales). That’s down from a high of 2 percent in April, still well above the average of 0.6% of monthly sales this decade.
Last month the monthly mortgage payment that Southern California buyers paid was $1,193, up from $1,052 the previous month, and down from $1,762 a year ago. Adjusted to inflation, payments are now 46.0 percent below typical payments in the spring of 1989, the peak of the prior real estate cycle. They are 55.7 percent below the current cycle’s peak in July 2007.
Foreclosure activity still remains near record levels, with financing with adjustable-rate mortgages is near the all-time low but has recently edged higher. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average in some markets.
About the Author
Yanni Raz is a mentor for many in the Real Estate Mortgage industry, Yanni Raz is been tutoring many homeowners in California and help some also to save their homes. http://www.homesinsale.com
Cheryl Wheeler – Estate Sale
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1978-P-D-S SET OF 3 COINS EISENHOWER DOLLAR PROOF UNCIRCULATED COINS ESTATE SALE $15.00 |
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CAP HAT OLD MILITARY? HEAD-MASTER 1964 ESTATE SALE NICE $42.49 |
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FORD SIERRA ESTATE/ STASIEWA SALES BROCHURE GERMANY $12.99 |
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Coo-Coo cuckoo Clock Solid Gold 14k Charm ESTATE SALE $355.99 |
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Holy Bible Christian Solid Gold 14k Charm ESTATE SALE $219.99 |
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typewriter Solid Gold 14k Charm or pendant ESTATE SALE steno type secretary $179.99 |
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Money Box Good Luck Solid Gold 14k Charm ESTATE SALE $239.99 |
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Vintage Trifari Gold & White Lucite Bracelet Estate Sale Find $8.99 |
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vintage Keihin Kei Hin Carb Japan estate sale part looks clean 5 3/4″ x 5 1/4″ $49.99 |
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ESTATE SALE VINTAGE 100% ORIGINAL GERMAN WAR RING WW1 WW2 IRON CROSS WWII $199.99 |
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Estate Sale RARITY ORIGINAL WW1 GERMAN IRON CROSS SILVER LOCKET WWI WW2 GERMANY $199.99 |
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UNIQUE ESTATE SALE GEM! ORIGINAL WW1 GERMAN SILVER IRON CROSS BRACELET WWI WW2 $249.99 |
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Estate sale RARE original german war knife bayonet WW2 WW1 dagger + scabbard $289.99 |
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GERMAN ESTATE SALE RARE ORIGINAL Complete Box + Medal Iron Cross + Pin WW1 WWII $469.99 |
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Vintage — Estate sale original german war knife CSZ bayonet WW2 WW1 dagger $189.99 |
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RARE ESTATE SALE 1943 AFRICA GERMAN WAR SOLDIER RING INSCRIBED HEAVY WW2 WWII $229.99 |
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Estate Sale RARITY PRE-WWII WW2 GERMAN 1929 DER STAHLHELM MEDAL BADGE PIN WW2 $249.99 |
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RARE — Estate sale original german war knife bayonet WW2 WW1 dagger + scabbard $299.99 |
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Private estate sale — RARE WW2 German Soldier War Field Phone Complete WWII $289.99 |
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ORIGINAL ESTATE SALE UV TESTED RARE GERMAN JEWISH WAR WW2 ARM BAND WAR ARMBAND $299.99 |
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Estate Banker Sale Vintage Tie Tac ?Gold Fill? Unknown Mark Quite Old $2.99 |
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Vintage 50′s-60′s retro plastic nesting canister set,estate sale find,mint $12.99 |
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B.Cukla hand made tin cookie cutter LEAF- Estate Sale Purchase $19.99 |
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AptsHome.com – Premium DOMAIN NAME on Sale! Apartments Home Real Estate Website $14.99 |
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WONDERFUL 1 US COIN COLLECTION LOT~SILVER~GOLD~MORE L9 ~ MINT ~ HUGE ESTATE SALE $86.00 |
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Estate Sale 14 Karat Gold Genuine Lapis Lazuli Man’s Ring $375.00 |
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Australia Sc# 207 – 209 1947 NEWCASTLE 150th – MINT VF NH – ESTATE SALE! $3.95 |
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1 Dozen Vintage Plastic Ornaments from estate sale $9.99 |
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Antique engineers level,S.Emery Salem compass,and pill box.(estate sale items) $30.00 |
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LARGE ESTATE LOT SALE~PROOF QUARTER SET~MINT COINS~GOLD~SILVER~WWII~ANCIENT $41.00 |
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Vintage Bracelet Estate USA 3 Strand Amber Faux 100′s in STORE SALE ab $16.00 |
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barbie vintage estate sale 3 kitchen fridge dishwasher seemy toys hard to find $4.99 |
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Vintage Egyptian King Tut Silver Filigree Pendant & Necklace Estate Sale Find! $7.99 |
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Polaroid Spectra AF instant camera w/ case,film & closeup lens,estate sale find $10.99 |
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The BEST real estate sales book I have ever used! Learn to SELL REAL ESTATE $7.50 |
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ESTATE SALE POLISHED ROSE QUARTZ BRACELET $3.95 |
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ESTATE SALE LARGE PEWTER SAND DOLLAR MEDALLION PENDANT $5.00 |
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OUTSTANDING! 1 US COIN COLLECTION~GOLD~SILVER~MORE! K8 ~ MINT ~ HUGE ESTATE SALE $72.00 |
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Magnificent Gold Plated Granular 60′s Bracelet. 8″ X 1/2″. Estate Sale $25.99 |
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Vintage Gold Plated Pin/Brooch w/ Aurora Borealis Austrian Crystal. Estate Sale $17.99 |
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ANTIQUE, VINTAGE, QUILT, SUNBONNET SUE, HAND APPLIQUE,ESTATE SALE, 1930′S $52.00 |
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Renault Laguna Estate 1995-96 UK Market Sales Brochure 2.0 1.8 2.2D RXE RT RN $15.80 |
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Simple Man’s Guide to Real Estate BIBLE forms, sale, purchase CD Rom agreement $18.00 |
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Mercedes-Benz E-Class Saloon & Estate 2006-07 UK Market Sales Brochure $26.87 |
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Vintage Collectible Hand Painted Wood Wheels Horse ~~ ESTATE Sale Find $24.99 |
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Post-Licensing Education for Real Estate Sales Assoc… $19.95 |
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Vintage Infant Drum Planter, Very Cute, Round, Estate Sale Find, No Markings $9.99 |
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Vintage Rubens Japan Bassinet Planter #3250, Estate Sale Find, Rare, MUST SEE!! $24.99 |
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Meico, Inc Paul Sebastion Porcelain Clown Figurine. Estate Sale Find, “Feelings” $9.99 |
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Beautiful Monet Snow Flake Pin Brooch In Box, Costume Rhinestone, Estate Sale $19.99 |
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Vintage Relpo Baby Blue Boot Planter with Bow, Estate Sale, #T820, Very Petite $9.99 |
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VINTAGE HANNA BARBARA AUGGIE DOGGIE T SHIRT OLD CARTOON CHARACTER ESTATE SALE $9.95 |
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CASTILIAN IMPORTS BRASS & COPPER WOOD WOODEN DUCK GLASS EYES ? ESTATE SALE $9.95 |
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2 VINTAGE WELLSVILLE CHINA CO RESTAURANT WARE BROWN DRIP CUPS ESTATE SALE $14.95 |
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LOT OF 15 VINTAGE UNIQUE & ASSORTED CLIP ON EARRINGS FROM AN ESTATE SALE $24.99 |
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OLD FOOTBALL CARDS (600) WAX PACKS ESTATE SALE FIND $0.01 |
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ESTATE SALE GOLD SILVER COINS ART BAR SAPPHIRES RUBIES $149.95 |
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Toyota Cressida 1977-78 UK Market Sales Brochure 2000 Saloon Estate $17.38 |
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ESTATE SALE NOLAN MILLER EAR RINGS GOLD TONES / CLEAR CRYSTALS $17.00 |
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Talbot Simca 1100 1980-81 Dutch Market Sales Brochure LS GLS Hatchback Estate $17.38 |
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1884-CC MORGAN DOLLAR, CERTIFIED PCGS MS-63 “ESTATE SALE” $235.00 |
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Citroen Ami 6 Estate 1964-65 Original Dutch Market Sales Brochure $28.45 |
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Peugeot 306 Estate 1997-98 UK Market Sales Brochure $14.22 |
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Citroen GSA Club Pallas Estate 1980 Original UK Sales Brochure $15.79 |
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Misc drawer ESTATE SALE finds. Watches, Pocket Knives, Coins, Brass, Pins, ETC. $8.99 |
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** 1907 Liberty Head “V” Nickel ** 105 YEAR OLD COIN **From Estate Sale** (47) $1.65 |
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** 1902 Liberty Head “V” Nickel ** 110 YEAR OLD COIN **From Estate Sale** (48) $1.50 |
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Amazing lot of 50 arrowheads from estate sale Great museme quality collection $9.50 |
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** 1906 Liberty Head “V” Nickel ** 106 YEAR OLD COIN **From Estate Sale** (49) $1.50 |
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ESTATE SALE VINTAGE JAPAN CIGARETTE BOX HOLDER WITH NESTING ASHTRAYS GOLD TRIM $25.00 |
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** 1903 Liberty Head “V” Nickel ** 109 YEAR OLD COIN **From Estate Sale** (50) $1.38 |
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trucks and cars by carol robinson ,3 framed prints ,estate sale item $15.99 |
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** 1905 Liberty Head “V” Nickel ** 107 YEAR OLD COIN **From Estate Sale** (51) $1.75 |
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** 1901 Liberty Head “V” Nickel ** 111 YEAR OLD COIN **From Estate Sale** (52) $1.25 |
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Camel Special Lights box of matches. Cigarette related. Estate sale item $4.99 |
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(25) SPORTSCARDS from Estate Sale! Free Shipping! $0.54 |