July has been the most popular month for summer vacations… most schools and colleges are on break, the weather is pleasant…and well, it’s just a darn good time to travel. But we’ll be honest. This month, we have come down with a serious case of summer fever. In fact, the more we go to work and tap away at our computers this summer, the more we have the desire to chart out new experiences, jet off to far-away places, rent vacation homes on the lake (Tahoe, anyone?) and basically throw caution and care to the wind for a few weeks of fun.
Since July is the most popular time to travel, it is not exactly the most popular month for purchasing a home. After all, it’s hard to think about putting your home on the market, devoting every weekend to attending open houses or making a huge financial investment when you’re counting down the weeks…days…hours until you’re sitting on the deck of your sun-drenched mountain cabin, watching wave runners and speed boats race by on crystal blue lake. But by most accounts, the summer 2013 housing market in California is off to a hot, if not feverish start. A slight (dare we say, “healthy?”) cool down could be on the way…hopefully just in time for our return from vacation when we’re ready to finally get back into the daily grind of our lives and focus on that thing our fathers called “a roof over our heads.” Here are the latest real estate headlines to prove it:
Despite a slower June, home prices continue to roll in double digits, according to NAR.
Don’t flip out this summer: house flippers have returned to the market, says the Financial Times.
When summer is over, here is what you can expect, according to Forbes: no bubbles, more homes, rising interest rates and less foreclosure activity.
Higher mortgage rates? No problem! It’s still a seller’s market, says The Wall Street Journal.
Gen-why? The fever of home buying has not caught on with the younger generations. Yet. MarketWatch examines.
Want to pay Midwest prices for a West Coast home? Surprise! The 10 most affordable ZIP codes all rest in the Inland Empire, where the median home price in some communities remains below $100,000, according to the Los Angeles Times.
Housing is sizzling in Southern California… prices in the Los Angeles metro area are up 19% from a year ago, notes Huffington Post.
Ahh…the San Jose Mercury News reports that the Bay Area housing frenzy is finally cooling off.
The craziest market in the U.S. just got a little less crazier (ahem, we’re talking to you, Silicon Valley), says TechCrunch.