Brett Weinstein Berkeley, CA Real Estate Broker with Realty Advocates Discusses the July Home Sales and Price Report from CAR

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Brett Weinstein Berkeley, CA real estate broker with Realty Advocates Discusses the July 2013 Home Sales and Price Report as reported by the California Association of Realtors® (CAR) in their monthly report which says the California housing market reached its highest level since May 2012.

Brett Weinstein Berkeley, CA real estate broker with Realty Advocates says it is important to note that the CAR President Don Faught said, "The spike in interest rates in June prompted home buyers to delay escrow closings in hopes that rates would fall back.  As buyers recognized rates had stabilized, they moved forward to close escrow, which lifted July’s sales from both the previous month and year."(1) Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 443,520 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  Sales in July were up 7 percent from a revised 414,670 in June and up 1.5 percent from a revised 436,870 in July 2012. One of the homes for sale in Rockridge that just came on the market this weekend is 432 McAuley St, Oakland, listed for $925,000.

The year-to-year sales increase was the first since December 2012, following six consecutive months of declines. The statewide sales figure represents what would be the total number of homes sold during 2013 if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. "A constrained supply of homes over the past year has fueled robust home price increases, particularly in the coastal regions," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "Looking ahead, we should continue to see strong price growth but at a less accelerated pace than what we’ve experienced over the past year.  Inventory levels are starting to build in some areas as price gains free up previously underwater homes and encourage homeowners reluctant to list because of the scarcity of homes to purchase." A great example of homes for sale in Oakland is is 6245 Brookside Avenue, Oakland which is in pending status.

About Brett Weinstein, Realty Advocates Broker

Brett Weinstein started his real estate career in 1983, buying, renovating and renting/selling houses in the East Bay. Working closely with the Realtors® who were part of his team, he saw the possibility of creating a real estate agency that delivered maximum value to the client. In 1986, he co-founded Realty Advocates to bring a new ethos to residential real estate: providing premier service and greater bottom-line value.

Weinstein enthusiastically takes the role of a true advocate for his clients. With refreshing candor, he demystifies the real estate world and makes the whole process feel effortless. He taps his background in architecture and his extensive knowledge of current construction costs to help sellers make smart upgrades to their home before selling and to help buyers budget for repairs and improvements as they prepare to make an offer. Brett Weinstein can be reached via email at brett(at)realtyadvocates(dot)com, by phone at 510-428-0757, or via his website at realtyadvocates.com

(1) http://www.car.org/newsstand/newsreleases/2013releases/july2013sales.

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