Although Slowly, the Real Estate Cycle Is Turning

Housing recovery may seem like a mirage in the desert of record foreclosures and steep unemployment, but history indicates that a more balanced market is in our future.
Real estate has always been and always will be cyclical. Recent numbers—namely gains in existing- and new-home sales, increasing activity among investors, upticks in housing starts and ongoing efforts to streamline short sales—offer a much-needed reminder that this downturn, too, shall pass.
The improvements we’re seeing might not be dramatic or even permanent just yet, but any step in the right direction is an important one toward restoring confidence among consumers and industry experts. It also seems that consumer confidence is improving.
The local market here in Kingsburg testifies to the above statement. The numbers in February were better than January. Our inventory is down to 34 homes whereas in January we were at 43 and December there were 49 homes for sale. As the inventory decreases, demand increases. The Price per Square Foot (PSF) on Sold properties went way up to $121 as apposed to $99 last month. Of the 9 homes sold in February, 7 of them were from $123 PSF up to $153 PSF for the higher end homes. We have not seen these square footage prices in several years. We currently have 21 Pending in escrow, which means these transactions should be closing in March and April, so the pipeline looks favorable too.
Beware the Ides of March! To ward off any Shakespearian forecasts around the middle of March, please join us on March 15th as we host the Kingsburg Chamber of Commerce Mixer at 1340 Sierra Ave. The mixer begins at 5:00 PM and typically goes until about 6:30 PM. Non-perishable food items would be greatly appreciated and will be donated to KCAPS.
Also look for those new QR (Quick Response) codes that are poping up on our signs. Scan them with your smart phone and receive instant access to that specific listing information. Click on the following to view our company QR code: The Housing Connection

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