As real estate agents, it is essential that we are experts – that we know the market, we understand the trends and we interpret and use this knowledge to the benefit of our clients. This is especially important because the media has been on such a delay when it comes to reporting on the recovery and it has complicated the general perception of the market.
Working in the industry, we have been seeing signs of the recovery for quite some time, with positive trends, promising figures and changing attitudes amongst investors and clients. It is exciting therefore that the news media is catching up to and reflecting our perceptions of the market.
The LA Times this week reported,
Pending home sales in July rose to their highest level in more than two years — the latest sign that the nation’s housing market is healing.
The National Assn. of Realtors said… that its pending home sales index rose 2.4% from June to July and was up 12.4% from July last year. The index hit a level of 101.7, which is slightly above where pending home sales were averaging in 2001, a year the group describes as historically healthy.
Here in Los Angeles, the market continues to be very active with inventory moving quickly and motivated buyers and sellers recognizing the opportunities available to them.
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