|August 15, 2016||No Comments|
Is there a correlation between medals won in the Olympics and national rates of home ownership? We’ll tell you after the Real Estate Market Update August 2016!
For Ventura County, the median price of a home sold last month was $535k, DOWN 5.3% from the prior month, but still up 1.5% from a year ago.
In my town, Simi Valley, the median price was $515k last month, down 2.8% from June but up 2.8% from a year ago.
In LA county, there was NO change from June to July 2016 – the median price for a home sold was $550k for both months. But the price was up 6.5% from a year ago.
We’ve recently hit record highs across the nation, topping our all time highs in 2005, so who knows… maybe we’ve peaked for awhile? We’re nearing the end of the summer buying season, so looks like it may be slowing down just a bit.
Inventory for both Ventura and LA County was UP about 21% last month to 2.3 months of inventory – which is still not many homes on the market, but a little more inventory goes hand in hand with prices stabilizing.
Here in Simi, inventory was up 34.9% to 1.9 months – same kind of deal. That’s a big jump as a percentage, but still not many homes on the market. Technically, we’re still in a seller’s market.
The fed did not raise the fed fund rate again – so interest rates are still insane – about 3.4% for a 30 year fixed as of today. So what am I saying? Stop being a wuss and go buy a bloody house!
So is there a correlation between medals one in the Olympics and home ownership?
These are the top ten countries for home ownership – starting with Romania with 96%!
Russia rounds out the top 10 with 84% of their homes occupied by their owners! I’ll bet you didn’t see that coming!
But only two of these countries are among the top ten in the Rio Olympics for medals won – Hungary and Russia.
So, ya… looks like no correlation!
Here in the US, the home ownership rate is about 67%.
If you’d like us to help you get that number up for the good ol USA, give us a call!
Jones Home Collective
2655 First St Suite 150 Simi Valley CA 93065
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