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August home sales tally best since 2005

Source: Orange County Register

Low interest rates and a strong economy continued to drive Orange County homebuying to a 12-year high in August, despite a severe shortage of homes to buy, particularly at the lower price ranges, housing numbers released Tuesday show.

CoreLogic reported 3,709 houses, condos and townhomes changed hands in August — the most for that month since 2005, and the fourth-highest tally for any month since June 2006.  “A shortage of available homes for sale continues to stoke robust growth in home prices,” Leslie-Appleton-Young, chief economist for the California Association of Realtors, said in a statement Monday.

“August marked the third straight month that the (statewide) median price gained 7 percent or more year-over-year, indicating that prices are not only growing but are accelerating into the end of the year.”

Fall sales

 

About Community Real Estate

Community Real Estate is a Real Estate Company committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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