Good News Friday…National Housing Sales up 3rd Month in a Row

Westcoe Realtors, Riverside California…As you know, no matter how insane and frustrating our real estate world can get, we try every Friday (or Thursday if I am playing hooky on Friday) to find some good news to send everyone off for the weekend…and today’s news comes compliments of the National real estate scene.  It was reported in today’s paper that on a national basis, housing sales are up by approximately 3% for the third month in a row…and all we can say is IT’S ABOUT TIME!

As a regular reader of this blog, you will know that we have been seeing this trend in Riverside for approximately the past year or so.  Our market has been extremely active for some time because the lower housing prices coupled with the very affordable interest rates has brought far more people into the market than foreclosures has removed.  The net result is that we have reported repeatedly that multiple offers are the norm for most properties in the “entry level” price ranges (approximately $300,000 and below), and we have far more demand than supply…which has led to an increase in property sales in our area far above the national scene.

In any event, it is nice to see the rest of the nation begin to catch up, although I feel that when dealing with averages, I wouldn’t be surprised if the sales jump in our area (and many other West Coast hot spots) is fueling the national averages…but whatever the reason, the more good news out there the better.  The real estate market is never as dismal as the national news makes it out to be, and for us in the Riverside area, we are almost always ahead of whatever economic curve is happening nationally…good or bad.

So…head off for your weekend safe and secure in the knowledge that perhaps the light at the end of the real estate tunnel is not a train after all! 

Take care, and be sure to let us know if there is any issue you would like to see addressed on our blog.