Chuck Barberini Realtor – Contra Costa County Real Estate – Barberini | Robinson Real Estate Group Intero Walnut Creek
December pending sales and Market Pulse Survey
January 25, 2016
California pending home sales register annual increase in December
LOS ANGELES (Jan. 25) – Pending home sales in California continued to improve from a year ago with solid gains, which will position the market for a modest increase in home sales in 2016, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
In a separate report, California REALTORS® responding to C.A.R.’s December Market Pulse Survey saw a small decrease in the number of sales with multiple offers compared with November as well as a decrease in the number of offers received. Listing appointments remained stable, while floor calls and open house traffic were down, primarily reflecting seasonal factors. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.
This article kind of surprised me, the last quarter of 2015 was very slow. There was more inventory then we have seen over the last year and it seemed as if properties were sitting longer. Prices have been steadily rising and it appeared that there were less multiple offer situations happening. The new year, however started of with a fury: I have a listing that has been on the market over 90 days. It is a probate property that is less then desirable condition. It is a Townhouse in an association that is not FHA approved and needs a bunch of work. I have received several calls on the property and several agents have told me that their client is interested and would be writing an offer. For various reasons the listing just sat, while several people were waiting for the price to be lowered. The first week of January, my phone blew up with calls on the property. On the first Friday of the new year I had multiple offers and the property went pending. It seems like the starting bell rang and that real estate will be as frantic as ever. Looking forward to a busy 2016.
Rates improved today upon the release of weaker than expected economic news.