May, June and July of 2023 down 18% in Southern California sales volume for single family homes, better than last December's volume which was down 46% (see the orange bar for Southern California).
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| Home sales volume bar graph statewide |
Southern California home sales volume has been "below the line" for over two years, along with all areas of the state.
High homes prices and unfavorable rates continue to have influence for buyers, of which 41% believe prices will continue to climb. Those who believe it's a good time to sell continues at the rate of 64%, so inventory not loosening up much on the sell side.
Although there's been a crunch on obtaining purchase home insurance in certain areas, the local market is still seeing buyers successfully closing their escrows.
In the last 30 days, 97 single family homes (average price $1,136,577) and 69 condominiums (average price $592,000) sold in Long Beach.
If you would like to find out more about selling, doing a 1031 exchange, or just find out more about the market in your area, please contact me via phone, email or text. And please feel free to do a property search on my website.
Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996
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