Simi Valley home sales for the month of December 2000 and finished off strong and in similar fashion as we saw in December of 2009. The higher volume and sales is not an indicator of market recovery for the following reasons. We’ve seen an increase of homes for sale under $300,000. The distressed market consisting of short sales and foreclosures pushes sales volumes up at year-end as banks try to clear their books.
With record low interest rates continuing many have hoped for turnaround in the market however pressures from inflation on goods and services are still influencing home purchasers decisions. Looking at the tables below, the same trends have continued has over the last 18 months. Homes under 500,000 continued to dominate the market well homes over $900,000 in Simi Valley still show sluggish sales.
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