Monthly Archives: May 2016

The Middle-Class Squeeze

The American middle class is losing ground due to the widening gaps in wealth. But a home is often the single most important asset of lower and middle-income families, and homeownership is a tool for wealth creation. The broad class of consumers in the U.S. is undergoing a rapid transition as economic insecurity lingers and consumers redefine how to live within their means. As the attached infographic shows, 61% of American adults lived in middle-income households in 1971. Today that number is 50%.
Our real estate market here in Kingsburg would fit mostly in the middle-class bracket. Locally we really haven’t seen much of a decline in either wages or consumers struggling to live within their means. Another good reason to live in Kingsburg.
Our market dropped somewhat in the month of April. We had 24 Active listings (which is still very low inventory) and had 6 sold properties. In March we had 28 Active and 16 Sold. The average price per square foot in April ticked down to $138 compared to $151 in March. Normally, the market this time of year is pretty hot, but for some reason, all sales are down. I knew in February looking at the upcoming escrow closings that March would be a banner month.
Upcoming events:
Kingsburg Farmer’s Market: May 19th through August 25th on Thursday. 5-8pm, Memorial Park
Kingsburg Swedish Festival: Friday and Saturday, May 22nd at 5:30pm, Friday, Smorgasbord and Heritage Program
9am to 6pm, Saturday, Festival with Parade, Vendors, and Heritage Activities
Concerts Under the Stars: June 23rd & 30th; July 7th, 14th, 21st, & 28th, Memorial Park (Vendor area opens at 5pm) (Concert starts at 8pm).  Please join us on June 30th as our sister company, New Era Financial will be sponsoring that night.  We have awesome “Pride in America” cling flags as a give-a-way.
Thank you for taking the time to read this blog. If you have any questions, please feel free to send us your comments. We welcome your response.

Leave a comment

Filed under Uncategorized