Mortgage applications RISE!
Greetings everyone,
It was announced this week that nationally, and on a seasonally adjusted basis, that mortgage applications have risen 4% in the last week, and just over 19% compared to the same period last year. This is yet another smidgen of good news for our rather mysterious real estate market. This coincides with other positive news from the first quarter of sales statistics gathered regarding the Santa Clarita real estate market.
Sales of 608 Santa Clarita single-family homes were up 18.1 percent over the same period a year ago and the 261 closed escrows reported this March were 14.0 percent higher. Condominium sales however did decline 4.9 percent to 274 transactions for the 1st quarter and were off 6.6 percent from March 2006 - which I have expected since they usually perform the worst in a relatively flat market or "down" market.
Business has been tremendous for me this year, so I certainly see the proof behind these numbers. Let's hope things continue to be somewhat balanced prior to going into another frothy market driven by buyer demand, which I can see happening by 2009, or 2010, barring any unforeseen national or worldwide turmoil that effects our economy and confidence.
Contact me to assist you in purchasing or selling Santa Clarita real estate. I can be reached at 661.373.2374 or Robert@TheScvAgent.com
As always, visit www.TheScvAgent.com for Santa Clarita's BEST real estate website.
- Robert Mickalson