La Canada home values September 2015: The average selling price to list price is down. And the absorption rate took a big jump. For one thing, the slowdown is partly the usual seasonal slowdown. Kids return to school. Families focus on settling in. Consequently, house hunting often takes a backseat. Additionally, cooler weather in some regions discourages home tours. Meanwhile, sellers may delay listing until spring. Thus, the market naturally cools during this period.
La Canada home values September 2015 Recap:
The median price reflects the fact that half of the homes sold for over $1,450,000 and the other half for less than $1,450,000.
Nationally, despite a 1.3% increase in inventory, it’s still 1.7% less than last year. The NAR (National Association of Realtors) found earlier that “homebuilding activity is currently insufficient in most metro areas.” Quite simply: supply is not meeting demand. Read the rest here
