The 1.14% absorption rate reflects what an unbalanced real estate environment it is for Glendale home buyers. Glendale homes are selling quickly and most over asking price. Here’s a link to a recent article in the Wall Street Journal about why buying a home this year will be more difficult than ever.
Average Price Per Foot of Glendale Home Sales
The sharp drop in real estate values in 2011 vs. 2010 is attributed to the $8,000 federal tax credit which expired in June of 2010. This tax credit put first time home buyers in a feeding frenzy which cooled once the tax credit expired. Keep current on home values in your neighborhood @ www.LA-HomeValues.com