I found that when my own children were growing up I didn't often see their progression because I was surrounded by it every day. But when I would see the children of friends and family that I hadn't seen for awhile, the change was dramatic. This happens not just with growing children, but with many other scenarios as well, including the real estate market.
Because I am constantly aware of what's happening in the market, most of the ins and outs and cycles are just part of the business. But for people who only become acutely aware on the occasion of their own purchase or selling of their own property, the facts and figures can sometimes seem dramatic.
Yesterday Marilyn Kalfus in the OC Register provided some interesting tidbits.
-- 3,648: The number of home sales in May, the highest one month number since June 2006
-- 34.4%: February's share of cash home purchases, the highest since January 1988
-- 3,161: Inventory of homes for sale on January 3, the lowest number in nine years
-- 1,805: Number of short sales from Jan. through May, down 41% from a year ago
-- 44,000: Number of homes previously underwater who regained equity in the first quarter
Of course, these are just slivers of information from a very large picture. But it shows the diversity of the market and Huntington Beach homes, Fountain Valley homes, and indeed all of southern California are part of a very large, complex, occasionally volatile housing market. So if you are entering the market as a participant, buckle your seat belt and hold on for the ride.
