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Home sales during November in the San Fernando Valley were down 22.5 percent compared to a year ago, yet local Realtors believe that’s good news suggesting that the market has completed its shift to a balanced, normal market, the Southland Regional Association of Realtors reported on Friday, Dec. 8.Visit to Apply Today http://available-grant-money.blogspot.com
“Everything I’ve been reading, everything I’ve been hearing from Realtors suggests that the major shift in the local residential real estate market is over,” said Steve White, president of the Southland Regional Association of Realtors, which serves the San Fernando and Santa Clarita Valleys. “The boom days are gone, replaced by today’s balanced market.
After years of 20 percent, 25 percent and higher year-to-year increases in the median price, it’s noteworthy that the median price of single-family homes sold last month was virtually unchanged from the prior year– off less than 1 percent.