OC & LA Real Estate Monthly Indicator PWR report May 2013

photo by : Amir Zee

According to Pacific West Association of Realtors " PWR" Monthly Indicator report which all data comes from CRMLS, so it’s real, current and relevant information which buyer or seller  want to know " The Median Sales Price was up 23.4 percent to $506,000 for detached homes and 33.9 percent to $329,400 for attached properties. Months Supply of Inventory decreased 62.8 percent for single-family units and 64.1 percent for townhouse-condo units.

Please look at this  Monthly Indicator PWR report which cover Orange county and Los Angeles county at Southern California.

Low property inventory and risk of higher mortgage interest rate pushing the asking price for properties higher.  The Federal Reserve Bank is considering decreasing its $85 billion a month bond asset purchases, which have been holding interest rates at or near historic lows. This is mostly the result of an improving jobs market, which is a good thing for real estate.