Simi Valley Area Existing-Home Sales Rise Again in March
Released on = May 2, 2006, 2:28 pm
Press Release Author = Western Real Estate
Industry = Real Estate
Press Release Summary = An shock to home sellers and opportunities for home buyers in Ventura County, Simi Valley, Moorpark Area.
Press Release Body = Simi Valley, CA (May 2 2006) - Sales of existing homes edged up in March following a strong rebound in February, according to Western Real Estate Services of Simi Valley, CA.
Total existing-home sales - including single-family, town homes, condominiums and co-ops - rose 0.3 percent to a seasonally adjusted annual rate1 of 6.92 million units in March from a pace of 6.90 million in February, but were 0.7 percent below a 6.97 million-unit level in March 2005.
Jim R. Wick, Western Real Estate\'s Broker/Owner, said sales are leveling out. "It\'s a good sign to see home sales holding close to the level of a strong rebound in the month before," he said. "This is additional evidence that we\'re experiencing a soft landing. We may see some minor slowing in home sales as interest rates rise, but the market clearly is stabilizing." Wick expects 2006 to be the third strongest year on record for home sales.
To View Existing Home Sales Data: Visit Western Real Estate Services online at www.westernrealestateca.com . You will find local home sales and data for Moorpark Real Estate, Simi Valley Real Estate, Conejo Valley Real Estate, Westlake and Ventura County Real Estate.
Search current home sales and undated property listings online or call (800) 732-1969 for a free marketing analysis or home search www.101homesearch.com.
"We offer local information that is challenging to find on most real estate websites. By offering such search sites for buyers as www.SimiValleyMoorpark.com , www.Moorpark-MLS.com , www.SimiValley-MLS.com , www.ThousandOaks-MLS.com , and www.VenturaCounty-MLS.com , consumers have options to find the home of their dreams instead of spending countless hours online." - says Corey Wick, Vice President Western Real Estate Services.
"We now see appreciation cooling to single-digit rates of price growth - another sign that the market is normalizing," Wick said. The national median existing-home price2 for all housing types was $218,000 in March, up 7.4 percent from March 2005 when the median was $203,000. The median is a typical market price where half of the homes sold for more and half sold for less. Historic price data has been revised back to 1989, including updates to reflect geographic changes over time, but price patterns are consistent with previously reported data.
Total housing inventory levels rose 7.0 percent at the end of March to 3.19 million existing homes available for sale, which represents a 5.5-month supply at the current sales pace.
Corey R. Wick, Vice President, Western Real Estate, said changes in the home market mean consumers need more professional guidance. "Changing waters require adjustments, and this is especially true for home sellers in most areas who are now working with buyers that are on equal footing - it\'s no longer a seller\'s market,"
"Most buyers in today\'s market are educated and have agents that represent their interests, so sellers need good advice on how to show and market their homes in the current environment, as well as negotiation skills - critical values that real estate agents bring to the table."
If you are a home buyer or seller, for an updated list of local websites serving the Ventura County Area search these Real Estate Sites:
Western Real Estate Services Simi Valley & Moorpark California 207 West Los Angeles Ave. #170 Moorpark, CA 93021 Ph: (805) 532-1969 Free: (800) 732-1969 Corey@WesternRealEstateCA.com
Web Site = http://www.WesternRealEstateCA.com
Contact Details = Corey R. Wick 207 W. Los Angeles Avenue, #170 Moorpark , 93021 $$country
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