Lacy Burke Offers Thoughts on the California Housing Market

As an active real estate agent in the Los Angeles area, Lacy Burke uses his knowledge of the real estate and housing markets to make accurate forecasts about the coming year. Having access to a greater amount of data than the average person, he is able to examine past figures, and compare them to the current buying and selling trends. Doing this gives him the opportunity to predict what house buyers and sellers can expect to earn or spend on their home.

Thankfully, the downward spiral that the housing market had faced for the last few years has stopped, and things are starting to look up. Already built single family homes, houses that are not newly built, are starting to show a significant increase in sales. In 2015, the average sale price of these types of homes also increased by nearly ten percent. This means that not only are more homes selling, but they are selling for a greater price. This is the news that homeowners have been waiting for.

Alternatively, houses for sale in San Diego and Orange County have remained stagnant in regard to the number of sales. It seems there are still roadblocks in those areas, preventing the timely sale of a home. Yet, the houses that have sold in the last forty-eight months actually sold for more than what the owner expected. It does not matter if the market is slow or healthy, understanding these figures is important to his business, and something that Lacy Burke will continue to oversee.
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Lacy Burke Offers Hope for the California Housing Market

Holding the unique position of real estate agent in California gives Lacy Burke access to the important figures and projected housing trends in his state. He is happy to report that while the housing slump has not completely diminished, it is surely on the rise. In the past two years, the sales of existing single family homes had been stagnant, and are now improving. The average home sale price also increased in the last year, by 9.8%. This is excellent news for Californians who are considering a home sale in the next year. Though raising the price on your home to an outrageous amount is not going to be fruitful, you will be more likely to get a fair price for your home in 2016.

In Southern California, especially the regions of Orange County and San Diego, the number of homes being sold have still continued to decrease. However, the homes that were sold in the last two years were signed at a final price that was higher than previous years. This trend has added to the appreciation of the homes in the area. This means that those properties are retaining their value for longer. This is beneficial for both sellers and buyers. Lacy Burke enjoys tracking these trends, even in a sluggish housing market. Following the ups and downs is a part of his job that he is skilled at, and it is something that he likes to discuss with others.
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