Real Estate Market

Ventura Real Estate Talk: September 2019

National Real Estate Overview

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

Existing-home sales strengthened in July, a positive reversal after total sales were down slightly in the previous month, according to the National Association of Realtors®. Although Northeast transactions declined, the other three major U.S. regions recorded sales increases, including vast growth in the West last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums, and co-ops) rose 2.5% from June to a seasonally adjusted annual rate of 5.42 million in July. Overall sales are up 0.6% from a year ago (5.39 million in July 2018).


National Association of Realtors July 2019 Data“Falling mortgage rates are improving housing affordability and nudging buyers into the market,” said Lawrence Yun, NAR’s chief economist. However, he added that the supply of affordable housing is severely low. “The shortage of lower-priced homes have markedly pushed up home prices.”

 

The median existing-home price for all housing types in July was $280,800, up 4.3% from July 2018 ($269,300). July’s price increase marks the 89th straight month of year-over-year gains.

Total housing inventory at the end of July decreased to 1.89 million, down from 1.92 million existing-homes available for sale in June, and a 1.6% decrease from 1.92 million one year ago. Unsold inventory is at a 4.2-month supply at the current sales pace, down from the 4.4 month-supply recorded in June and down from the 4.3-month supply recorded in July of 2018.

Properties typically remained on the market for 29 days in July, up from 27 days in June and up from 27 days in July of 2018. Fifty-one percent of homes sold in July 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 3.77% in July, down from 3.80% in June. The average commitment rate across all of 2018 was 4.54%.

First-time buyers were responsible for 32% of sales in July, down from 35% the month prior and about equal to the 32% recorded in July 2018.

 

 

The BEST Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today.

Take advantage of our experience! Contact us for a list of preferred mortgage professionals in our area -- pros we know will serve your interests well. Our experience can really help when it comes to finding the right mortgage professional and then getting the right mortgage for your situation.

 

 

Why you should SELL your Ventura Home this Fall

With the kids are back in school and the holiday season a few months away, many people do not think that now is the best time to sell your Ventura home. Despite these factors, there are many reasons why this season might be the perfect time for you to sell. Don't miss out on a great opportunity by checking out these Top Reasons to Sell Your Home this Upcoming Fall Season!

1. High Demand from Buyers

With slower growth in new construction and lower inventory in general on the market, fall tends to see higher demand from buyers. Use this high demand to sell your home quickly and for top dollar before the end of the year.

 

2. There is Less Competition

Because the school year has started and the holidays are right around the corner, many sellers are more inclined to wait to list their home until the spring. That means less competition. The limited choices for home buyers will make it easier for them to find your home listing and help you stand out in the smaller crowd!

 

3. It Will Be Quicker

Buyers in the fall market tend to be more determined to find and move into a place as quickly as possible, particularly with the holiday season fast approaching. Enjoy fewer days on the market by listing this fall as opposed to waiting until next year.

 

4. Take Advantage of Higher Sale Prices

Sale prices of homes are quite high across the board which means it is a good time to take advantage. Although there are always changes in the market, prices are predicted to drop over the next two years, so enjoy a higher return on your investment while you know you can!

 

5. The Time is Right For You & Your Family

No matter what the reason behind it, only you know when the best time to sell your home is. If you know that the time is right now then this season is the perfect time to sell!

 

For more Sellers Tips, Contact Blake Mashburn today!

 

Share This Page

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