November brings warm thoughts and gratitude to the forefront, and thanks certainly appear to be in order when it comes to the progressive developments in housing this year.
While some market stabilization was anticipated for 2012, we’ve seen a healthy recovery in many areas of California. Although we’re far from the peak of 2006, the California median home price is up 2.6% from June and up 11.5% from last year.
One factor contributing to price stabilization – and even appreciation – is the fact that housing inventory remains tight. According to MLS trends, at the end of October, there was a meager 2 1/2-month supply of inventory in the city of Pasadena compared to last year which was 5 1/2-months. With prices seeing movement and less homes for sale, the timing is right to sell. So, in addition to preparing your home for the holidays, this also may be time to get your home ready to list in the New Year.
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