Things are really picking up in the Malibu California Real Estate Market along with the national market! What with the LA Times noting PRICE RISES another news source, CNN have released more encouraging information

CNN.com have released information that shows that the housing market really is on the turn!

CNN.com are reporting a record jump in existing home sales July-August 21st 2009 and that the volume of home re-sales has been on the upswing for four consecutive months. Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008. Also, excitingly July home sales hit an annualized rate of 5.24 million proprieties, marking the first time above the 5 million mark since last September, when they hit 5.1 million.

This of course echoes the National Association of Realtors (NAR) who reported earlier this month (as we blogged about!). The monthly gain was the largest on record for existing-home sales, which NAR has tracked since 1999. CNN also note that affordability is good at the moment and that here in the West sales were at a rate of 1.13 million, ahead of last July, however, by 1.8%. The median price was $202,300.

Realty Times is also announcing that the Real Estate Market nationally is in “Growth Mode” with every region of the country seeing increases in pending sales in June. They also note that on the mortgage front, new purchase applications to buy houses rose again earlier this month, according to the Mortgage Bankers Association. Thirty-year average fixed rates fell to 5.2% from 5.4%. Now really is a great time to buy!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Judy Kunisaki – CA DRE license 00963582