First Team Real Estate Announces Southern California Market Continues to Attract New Buyers, Sellers
Irvine, CA (PRWEB) July 25, 2013 -- The fast growing Southern California real estate recovery is becoming long lasting and healthy market, according to a recent analysis from First Team Real Estate drawn from data over the last 30 days.
"While investors, absentee buyers, and cash deals are still a large part of the market, residential buyers in this last quarter really started to gain some traction," said Chris Pollinger, Senior Vice President, Sales for First Team Real Estate. "This is great news across the market because buyers are needed as supply of houses coming to market to maintain momentum."
In a First Team Real Estate Market Trends analysis of data gathered from industry sources including Dataquick and California Association of Realtors, as a percentage, absentee buyers are down by over 10% since their historic peak in January, while up to 25% of the increase in the median price of Southern California homes was due to an improvement in the type of property coming on the market.
"A lot of folks that were sidelined or were waiting for a great return on their home are now putting those properties on the market," continued Pollinger. "This is an extremely positive sign that market activity is not just being driven by investors and prices going up on the same property, but new residential buyers buying homes that weren't on the market before. That shows this is getting to be a market with a positive future."
So far this year, tens of thousands of sellers and buyers have used the same tools that agents, brokers, and investors use to analyze property and prices from the neighborhood level all the way up to county by county comparisons at First Team Real Estate Market Trends. You can find Market Trends by clicking http://ow.ly/nhQrE .
ABOUT FIRST TEAM REAL ESTATE
Growing from a single office in Huntington Beach, CA in 1976, First Team Real Estate is now Orange County's largest and most trusted private real estate agency with offices across California. In 2011 and 2012, First Team was recognized as Best Real Estate Company by the annual Orange County Register survey of 100,000 Southern California households. We can be reached at (888) 236-1943.
ABOUT FIRSTTEAM.COM
Firstteam.com is the official website of First Team Real Estate, and is used daily by thousands of unique users who trust its property and market analysis data which is updated four times daily on average. According to independent rating organizations of Internet usage and reach, firstteam.com is the most used brokerage property web site serving Southern California. For more information go to http://ow.ly/lZH0G.
JEFF GIBSON, First Team Real Estate, (949) 851-8511, [email protected]
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