Editorial Board Says Market Good For Home Buyers

In case you haven't seen it, the North County Times has a great editorial in today's newspaper highlighting the improving housing market.

While acknowledging the October year-over-year drop in homes sales, the editorial draws special attention to the quarterly Southern California Leading Economic Indicator tracked by Cal State Fullerton economist Adrian Fleissig that showed a small gain in the three months ending Sept. 30 - the fourth consecutive quarter of growth. 

The editorial concludes:

For would-be buyers with good credit reports, some job security and an itch for new digs, this may be a good time to jump in.

Read the full editorial

New Home Sales Data Released

Our state affiliate, the California Building Industry Association, released a report yesterday showing 414 new home sales in Riverside and San Bernardino counties in April 2010.  That represents a 38.8% decrease from April 2009, but a 1.7% increase from March. Let's hope that March-to-April increase is a trend. The median price for new homes sold held flat from March to April at $282,425 in the Inland Empire; that represented a 3% decrease from April 2009.

Read the North County Times story

Read the CBIA press release

View the data