Sales Upswing Continues for Livermore Valley!

Information released by the California Association of Realtors shows that pending real estate sales improved in June 2011.  This was  the second consecutive monthly increase, with pending home sales in June reporting a 1.9% gain over May.  Another encouraging sign is the year-over-year increase from June 2010, with the June 2011 index posting a 4.4% gain.

On the national level, pending home sales for June 2011 are 2.4%  higher than the previous month, and 19.8% higher than June 2010.

California’s sales improvements are more modest than the national averages, due to the volume of distressed homes in our markets. Harder-hit areas such as Lake County, San Bernardino County, and Madera County have a high volume of distressed inventory to work through.  Short-sales and bank-owned properties are slower to sell and offer discounted prices. This affects our statewide average and reflects the market-by-market nature of our real estate recovery. 

That said, there are a couple bright spots to note. We are beginning to see year-over-year sales improvements from 2010. We are also seeing a leveling off of distressed property volume. This combination of positives points to gradually rising home values as distressed inventory is absorbed. Strength in local employment is another factor that comes into play.

Naturally, there are issues that could affect market direction, such as interest rates, fiscal policy, and the usual economic concerns. No one can predict all the what-ifs. For this reason, it’s important to have good market  information and the guidance of a real estate professional who has your best interests in mind.

As your Livermore Valley real estate professional, I provide market information and statistics  regarding home sales as a service to my clients. I also provide the professional experience you need to make the most of Livermore Valley’s real estate market!

My expertise becomes your advantage when you’re ready to buy or sell a home in Livermore, Dublin, or Pleasanton.  Whether you need a home evaluation or just have a few questions, I will put my knowledge and experience to work for you. Contact me today for help with all your real estate needs!

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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