San Gabriel Valley Real Estate

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Tight Inventory, Demand Push Home Prices Higher in First Quarter

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NAR: Tight inventory, demand push home prices higher in first quarter

What you should know …

 Lower interest rates and stabilizing home prices over the past year combined to make it easier for more Californians to purchase a home in the first quarter of 2015, according to the CALIFORNIA ASSOCIATION OF REALTORS®.

 The percentage of home buyers who could afford to purchase a median-priced, existing singlefamily home in California in first-quarter 2015 rose to 34 percent from the 31 percent recorded in the fourth quarter of 2014 and up from 33 percent in the first quarter a year ago.

 Home buyers needed to earn a minimum annual income of $87,700 to qualify for the purchase of a $442,430 statewide median-priced, existing single-family home in the first quarter of 2015.

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This entry was posted on May 16, 2015 by and tagged , , , , , , , .

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Contact Us!

Rich & Annie Reed
REALTORS
Long Dragon Realty
CalBRE# 01906230 & 01894384

(English/Spanish)
626-538-5116

(English/Chinese)
626-226-7862

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