August Home Sales Tally Best Since 2005 #homeownership #asset #realestate #wealth

Source:  Orange County Register

Low interest rates and a strong economy continued to drive Orange County home-buying to a 12-year high in August, despite a severe shortage of homes to buy, particularly at the lower price ranges, housing numbers released Tuesday show.

CoreLogic reported 3,709 houses, condos and town-homes changed in hands in August - the most for that month since 2005, and the fourth-highest tally for any month since June 2006.

"A shortage of available homes for sale continues to stoke robust growth in home prices," Leslie-Appleton-Young, chief economist for the California Association of Realtors, said in a statement Monday.

"August marked the third straight month that the (statewide) median price gained 7 percent or more year-over-year, indicating that prices are not only growing but are accelerating into the end of the year."

Check out the full story here:
http://www.ocregister.com/2017/09/19/august-home-prices-dip-amid-strong-sales/

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