Real Estate Market

Market Trends: May 2019

National Real Estate Overview

Note: March 2019 data below are the most recent released by the National Association of Realtors.

Existing-home sales retreated in March, following February’s surge of sales, according to the National Association of Realtors®. Each of the four major U.S. regions saw a drop-off in sales, with the Midwest enduring the largest decline last month.

 

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) fell 4.9% from February to a seasonally adjusted annual rate of 5.21 million in March. Sales as a whole are down 5.4% from a year ago (5.51 million in March 2018).

 

National Association of Realtors March 2019 DataNAR's chief economist, Lawrence Yun, anticipated waning in the numbers for March. “It is not surprising to see a retreat after a powerful surge in sales in the prior month. Still, current sales activity is underperforming in relation to the strength in the jobs markets. The impact of lower mortgage rates has not yet been fully realized.”

 

The median existing-home price for all housing types in March was $259,400, up 3.8% from March 2018 ($249,800). March’s price increase marks the 85th straight month of year-over-year gains.

 

Total housing inventory at the end of March increased to 1.68 million, up from 1.63 million existing homes available for sale in February and a 2.4% increase from 1.64 million a year ago. Unsold inventory is at a 3.9-month supply at the current sales pace, up from 3.6 months in February and up from 3.6 months in March 2018.

 

Properties remained on the market for an average of 36 days in March, down from 44 days in February but up from 30 days a year ago. Forty-seven percent of homes sold in March were on the market for less than a month.

 

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 4.27% in March from 4.37% in February. The average commitment rate across all of 2018 was 4.54%.

 

First-time buyers were responsible for 33% of sales in March, up from last month and a year ago (32% and 30%).

Make Your Offer Count!

Before making an offer on a home in today's competitive housing market, it is more important than ever for home buyers get their financial house in order when applying for a loan.

 

While there are online resources available that can provide a sense of one's overall financial position, be sure to review your credit report in person with your mortgage professional and get pre-approved for a loan before making an offer on a home.

 

A little preparation goes a long way and can make a big difference when it comes to closing on your dream home. Contact us today to get the right loan for your current needs!

Celebrate Mom In Ventura!

Celebrate the most special woman in your life this Sunday.......your Mom!! Mother's Day is this Sunday, May 12th! Want to make sure it is a day that she will never forget? There are so many options available in Ventura! Whether you want to treat her to a special meal or find something unique to do, you and your mom will certainly have a great time this Sunday. Here are our recommendations for ways to celebrate Mother's Day in Ventura!

 

 

Honor that time honored tradition of Mother's Day brunch at one of these fantastic local spots:

 

Discovery Ventura | 1888 East Thompson Boulevard

Time: 9:00 am - 3:00 pm

Cost: $34.95 per adult | $15.95 per child

Reservations: (805) 856-2695

 

Poinsettia Pavilion | 3451 Foothill Road, Ventura

Time: 10:00 am - 2:00 pm

Cost: $55 per adult | $35 per child (ages 3-10)

Reservations: Online HERE

 

Cafe Fiore | 66 California Street

Time: 11:30 am - 2:30 pm

Cost: $42 per adult | $15 per child (ages 10 & under) | $32 per senior (ages 62 & over)

Reservations: (805) 653-1266

 

Treat mom to a special day with one of these fun activities:

Mom's Day Run

Time: 8:00 am - 10:00 am

Location: San BuenaVentura State Beach | 901 San Pedro Street

Cost: $35 per person - 5K | $40 per person - 10K | Register HERE

Get active this Mother’s Day with mom for the 9th Annual Mom’s Day Run. Run, jog, or walk in the 5K or 10K races. There will be live music by Emily B and delicious food at the finish line. All proceeds from this event benefit The VHL Alliance, which helps fund cancer research and services.

 

Mother's Day Seaside

Time: 1:00 pm - 4:00 pm

Location: Ventura Harbor Village | 1583 Spinnaker Drive

Cost: FREE!

Listen Castillo Trio at the Promenade Stage before treating mom to a shopping spree at her favorite stores and/or a tasty treat at a lovely waterfront restaurant.

 

Denise Carter's Mother Day Show

Time: 7:00 pm (Doors open at 6)

Location: Ventura Harbor Comedy Club | 1559 Spinnaker Drive, Suite 205

Cost: $15 per person | Purchase tickets HERE

Make mom laugh the evening away with Ventura County’s favorite female comedian.

 

 

The Blake Mashburn Group wishes all the mothers in Ventura a very happy Mother’s Day!

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Contact Information

Photo of BLAKE MASHBURN Real Estate
BLAKE MASHBURN
Century 21 Everest
1190 S. Victoria Avenue, Suite #100
Ventura CA 93003
Office: 805-856-9350
Cell: 805-368-0202
Fax: 805-642-1424