Last month the highest priced home sold in June 2019 was 890 Huntington Circle Pasadena. This historic Langham Huntington home was originally listed for $5,988,000 and sold in 22 days for over asking at $6,300,000 all cash. The sellers bought this home in 2004 for $3,450,000.
Marketing:
From Core Logic:
At the end of the first quarter of 2019, total home equity reached $15.8 trillion, up from $6.1 trillion in the first quarter of 2009. Between the first quarter of 2010 and the first quarter of 2019, the average equity per borrower increased from approximately $75,000 to roughly $171,000. In July 2019, the United States’ economic expansion reached 121 months, the longest on record. June 2009 marked the trough of the Great Recession, after which gross domestic product (GDP) and industrial production resumed growth. Since then, the economy has continued to grow. With housing accounting for approximately 15% of GDP since 2010, the real estate market is a key indicator of economic health.
