Industry Insights Uncategorized

October CAR Trends Report: The Home Buying Trifecta

November 11, 2010

The October 2010 CAR Trends Report has been posted to the Research Data section on the Marketing page of SAVI.
In it, CAR reports that the California housing market showed more signs of adjustment as statewide sales rose in September for the second month in a row to 466,580 homes, a 3.8% month-to-month gain from August.
The months ahead offer a prime opportunity for buyers to find the home buying trifecta: finding the right home at the right price for the right mortgage rate. Here’s why:

  1. There is a wider variety of homes on the market now, including a mix of REOs, short sales, and conventional or nondistressed homes for sale.
  2. Home prices have stabilized or risen in most California markets for at least a year, but still remain well below the peak levels of the last decade.
  3. Mortgage rates are at their lowest levels in over 50 years, pushing the monthly payment down dramatically.

To access the full report, click here.

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