Lacy Burke is a Santa Monica real estate agent with an intimate
knowledge of the Los Angeles market, honed by the years he grew up
there. He has marketed residential homes, investment properties and
business opportunities throughout the city.
As a real estate professional, he closely watches the performance of the market throughout Southern California. And the state’s real estate industry shows signs of continuing improvement. Pending home sales were up 13.6 percent on an annual basis from the 114 index recorded in April 2014, which at the time was the fifth straight month of year-to-year gains, and the third straight month of double-digit advances. Across the state, pending home sales declined slightly in April, with the Pending Home Sales Index (PHSI) down 0.6 percent, based on signed contracts. The PSHI is an index created by the National Association of Realtors. It tracks those home sales where a contract has been signed, but the sale has not been closed.
On an encouraging note, the share of sales closing above asking price has been on an upward trend for three months in a row. This indicates the return of bidding wars in some local markets. Thirty-six percent of transactions in April closed above the asking price, up from its lowest point of sixteen percent in January of 2015. Forty-one percent of sales closed below the asking price, and twenty-three percent closed at the asking price.
Lacy Burke is the head of Lacy Burke Realty.
Information – http://LArealestateHomes.com; 310-666-9752
Get a Free, Personalized Home Valuation Report at http://MyHomePropValue.com
As a real estate professional, he closely watches the performance of the market throughout Southern California. And the state’s real estate industry shows signs of continuing improvement. Pending home sales were up 13.6 percent on an annual basis from the 114 index recorded in April 2014, which at the time was the fifth straight month of year-to-year gains, and the third straight month of double-digit advances. Across the state, pending home sales declined slightly in April, with the Pending Home Sales Index (PHSI) down 0.6 percent, based on signed contracts. The PSHI is an index created by the National Association of Realtors. It tracks those home sales where a contract has been signed, but the sale has not been closed.
On an encouraging note, the share of sales closing above asking price has been on an upward trend for three months in a row. This indicates the return of bidding wars in some local markets. Thirty-six percent of transactions in April closed above the asking price, up from its lowest point of sixteen percent in January of 2015. Forty-one percent of sales closed below the asking price, and twenty-three percent closed at the asking price.
Lacy Burke is the head of Lacy Burke Realty.
Information – http://LArealestateHomes.com; 310-666-9752
Get a Free, Personalized Home Valuation Report at http://MyHomePropValue.com
