Glendale CA Home Values November 2017: A new real estate report reveals essential housing market trends. High student loan debt and a lack of affordable homes are major factors. These challenges have contributed to a significant drop in Americans buying their first home. The National Association of Realtors confirms this shift with startling statistics. According to their recent report, first-time buyers accounted for only 34% of home sales this year. This marks the lowest share since 1981—a nearly 36-year low. Rising home prices and mounting debt make it increasingly difficult for new buyers to enter the market. Many find it hard to save for down payments while managing student loan payments.
The lack of affordable housing also plays a significant role. Inventory remains tight, and competition is fierce. In cities like Glendale, entry-level homes are scarce. When they do become available, multiple offers often drive prices even higher. This competition pushes first-time buyers out of the running. Despite these obstacles, demand remains strong. Buyers continue searching for the right opportunity, even in a challenging market. Some turn to creative financing options, while others wait patiently for new listings. The desire for homeownership persists, even as barriers grow.
The Glendale real estate market reflects these national trends. Affordability remains a challenge, and first-time buyers feel the impact. However, opportunities still exist for those ready to act quickly and decisively. With the right guidance, navigating this market is possible. Read the rest here
Last month, Glendale home sales ranged from $619,000 for a 2-bedroom and 1-bathroom home to a $3,050,000 estate—three homes sold for over $2,000,000.
Glendale CA Home Values November 2017 Recap:
The low absorption rate continues in Glendale. Last month reflects a very strong home seller’s market. As we are winding down the year, there will be fewer selections for home buyers still in the market for Glendale real estate. If you want to learn more about Glendale homes for sale and their values, call Phyllis at 818 790-7325.
