Here are some of the highlights from the CAR December Report:
Home price appreciations started picking up in second half of 2017
Price per square foot was $265 which is down 4.3% from November, but up 6.4% YTY
Sales price-to-list is up over the same period last year
Inventory is at the lowest level since June 2004
Supply remains on a downward trend with constraints across all price ranges
Inventory index is at the highest levels for the $3M+ homes
Inventory continues to drop across all regions
California real estate sales transactions for December ended with a slight increase. December sales were 420,960 units, which represents a slight gain of +1.4% YTD and a +1.4% increase over the same period last year. California home sales showed a slight recovery even though Bay Area sales were virtually unchanged and Southern California home sales were down. Central Valley Sales were also down, but that was due primarily to time of year for that region. The share of homes sold in all price brackets in December 2017 were in line with December 2016. Sales improved in mid and high-priced markets, but continued to decline in lower priced segments. California median home prices continue to grow at a fast pace with December 2017 median price at $549,560, which increased +0.5% over last month and is an increase of +7.6% over the same period last year.
As a Mortgage Broker in today's economy, you already know that real estate relationships and partnerships are important for business success. Whether you have a relationship with a trusted private money lender or not, now is the perfect time to consider working with private lenders in order to close more deals and find additional funding options.
In this guide, we've compiled some of this year's most viewed mortgage broker articles that discuss the benefits and possibilities a partnership with a private money lender can offer. A variety of educational topics that will help you fund your clients and move forward with your deals.