Home Buyer Traffic Continues to Grow Despite the Pandemic
This 2020 is certainly a surprising year. Not only because of the pandemic, but also the fact that the residential real estate market remains strong despite the current global situation.
In the state of California, in particular, home prices and sales have continued to surge.
Median home prices have reached their highest point with condo-townhouse properties growing $21,000 through September.
The coronavirus infections and raging wildfires in the state don’t seem to diminish enthusiasm in the home buyer market, as evidenced by the growth of home sales and prices in September.
Californians Aim to Change Their Lifestyles
While apartment rent prices are going down in the San Francisco Bay Area and vacancy rates increase, other property markets in California are red hot.
The reason is many Californians want to buy single-family homes.
Despite the state government debts being a concern, this demand is unlikely to decrease any time soon.
On the contrary, the California Association of Realtors (C.A.R.) predicts that the home buyer traffic will continue to rise in 2021.
September’s Home Sales in California
Closed escrow sales of houses in California increased to 489,590 in September, a growth of 5.2% from the previous month when 465,400 transactions took place.
It’s also 21.2% higher than September 2019, which saw 404,030 home sales.
Single-family home sales up 6.3% to 465,400 in August on a seasonally-adjusted annual rate and grew 14.6% from the same month in 2019.
It’s worth noting that sales haven’t been this good since September 2016.
In 2020, they increased for the third straight month. The median for an existing single-family home in California is at an all-time high, following climbs in June and July.
Houses all over the state hit a record high at a median price of $712,430, which is a huge increase of 17.6% from $605,680 in September 2019.
According to C.A.R. President and a second-generation Realtor from Bakersfield, Jeanne Radsick, home sales will continue to go up in the coming months since home buyers are still motivated by the tumbling interest rates.
In other words, the home buyer market will remain a bright spot amid all the economic struggles that California has to face.
Real Estate Industry and the Importance of Scheduling a Termite Inspection
Now when it comes to the real estate industry, there’s something important that you will want to pay attention to, namely termite inspection.
Every real estate property should have a termite inspection as it will determine whether lending companies will let the buyer borrow some money for the home.
The inspection needs to be done before the process of buying a home can be started.
We, at Accurate Termite and Pest Control, are always ready to help you check for signs of termites and other pests such as ants, roaches, spiders, bed bugs, rats, mouses, gophers, and moles.
We have licensed termite inspectors who will be able to accurately tell if your home is infested with termites or other unwanted organisms.
Our inspection covers the whole house from top to bottom.
You can visit our website at www.termitepro.us and use our super easy tool to schedule a termite inspection right away.
All you have to do is enter your zip code and choose a day and time for your inspection. The online scheduling takes only 30 seconds!
