Analysts at DataQuick, a real estate information company, say that home sales around Southern California were slower than expected during the month of November. Sales dropped 10.4 percent across the six-county region, and according to John Walsh, president at DataQuick, the government shutdown and continued low inventory are to blame.
Andrew LePage, an analyst with DataQuick, said: “There’s demand out there, but for a variety of reasons, Southern California did not see home selling that was commensurate with the level of demand.”
But Huntington Beach home owners have little reason to worry. Experts point out that the fall months are historically slow because of seasonal reasons like back-to-school, the holidays and more. In fact, as DataQuick points out, home sales around Southern California are typically about 7.6 percent lower in October and November than at other times during the year.
Orange County real estate faired far better than other counties like Ventura, Riverside and San Bernardino, which recorded a 16.5 percent, 10.4 percent and 7.6 percent decline in sales, respectively year-over-year in November. And the good news is that median home prices continued climbing despite the drop in sales. All six counties recorded median price gains of 15 percent or higher year-over-year during this same month.
As expected, both real estate experts and Huntington Beach home owners are focusing their attention on 2014, which is just a few days away. The expectation is that prices will continue to rise next year and that home sales will pick-up during the spring buying rush. What’s more, experts are hopeful that buyers will start getting back in the game earlier than expected, with some pointing to late January as a potential time when home buying will increase again.
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