Home Values down in Oct but Cycle says Up

Home Values down in Oct but Cycle says Up

Home values took a big dive for the month of October compared to Sept.  Don’t be alarmed in any way though.  The point of this graph is to show that there is a cycle that has been consistently repeating itself for the past 4 years.  There is nothing that is taking place now that can cause any kind of immediate turn in the market for the worst.  Notice the word we used:  Immediate.  Of course real estate will always make shifts, however there is absolutely no way it can make a shift to levels that homes were selling at in 1950, or 1960.  You would agree with me on that I hope.  Many of you may know someone or at least heard a story of someone who bought a home in 1960 for $16,000 right? 

               The reasons we bring that up is to point to the benefit of owning real estate.  It may have a cycle of going up and down every 7 years but long term it always goes up.  To further the point, even though there was a $40,000 drop in average home prices from Sept to Oct, we are still up $41,000 year to date.  The average sales price for a Single family home in Downey and Surrounding areas was $559,438.  The average sales price for January of this year was $519,877.  It’s always interesting to see what takes place in the 4th quarter. As mentioned before, our most busiest time of the year is the 4th quarter.   It’s when all the serious buyers come out.   Think about it.  If you’re actually thinking of buying a home during the holidays (when most people tend to take a break from buying real estate), you’re going to get your pick of the litter.  Call us anytime.  We’d love to serve you… 

Jess Rodas    24/7
Sales Manager | NMLS #258088
( D: (951) 764-7667
( F: (866) 691-2916
* Jess.Rodas@Academy.cc
www.AcademyMortgage.com/jessrodas

 

Type is 'Single Family Residence'County is 'Los Angeles'

City is one of 'Bellflower', 'Cerritos', 'Downey', 'La Mirada', 'Lakewood', 'Long Beach', 'Montebello', 'Norwalk', 'Paramount', 'Whittier'
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Photo of The Mother & Son Team - Maria Palacios & Chris Gon Real Estate
The Mother & Son Team - Maria Palacios & Chris Gon
Berkshire Hathaway HomeServices, California Properties
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113