CA Real Estate Market Forecast Shows The State Making Strong Gains
CA Real Estate Market Update
Overall Market Gains:
Since spring of this year the CA real estate market has been making some strong gains. According to the California Association of Realtors (CAR) the number of existing single-family homes sold in the state of California as of July 2015 totaled 449,530; that is a 12.7 percent rise from the same time last year. Home sale prices in the state are also up. CAR’s market analysis reported in July of this year that the median home price in California was $488,260 which is a 5.4 percent rise from July 2014.
A Glance At LA County:
In Los Angeles the average home price has also been climbing. As reported by CAR in July, the median home price for Los Angeles County was at $486,310 which up from the same time last year when it was reported to be at $461,290. Analysts say that a mix of strong demand to buy now, relatively mild year-round weather, and current interest rates remaining below 4 percent account for an overall rise in the California real estate market.