According to realtor.org, home sales rebounded last September, driven by sales from first-time home-buyers. This resulted in a total 34 percent share, something that has not been seen in over four years.
The breakdown goes down as follows:
Single-family home sales increased 4.1 percent to an annual rate of 4.86 million in September compared to 4.67 million in August, making it 0.6 percent above 2015. The median existing single-family home price was $235,700 in September, up 5.6 percent from September 2015.
Existing condominium and co-op sales dropped 3.2 percent to an annual rate of 610,000 units in September from 630,000 in August, making it the same from 2015. The median existing condo price was $222,100 in September, which is 6.1 percent above a year ago.
September existing-home sales in the Northeast leapt 5.7 percent to an annual rate of 740,000, which is unchanged from a year ago. The median price in the Northeast was $261,600, which is 2.1 percent above September 2015.
In the Midwest, existing-home sales grew 3.9 percent to an annual rate of 1.32 million in September, and are now 2.3 percent above a year ago. The median price in the Midwest was $184,500, up 5.9 percent from a year ago.
Existing-home sales in the South in September ticked up 0.9 percent to an annual rate of 2.16 million, but are still 0.9 percent below September 2015. The median price in the South was $204,000, up 6.6 percent from a year ago.
Existing-home sales in the West went from 5.0 percent to an annual rate of 1.25 million in September, to 1.6 percent higher than a year ago. The median price in the West was $345,400, up 8.1 percent from September 2015.
For local information, contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology. If you would like more information about being a first time homebuyer in Chino Hills, contact Erika Shinzato, top real estate agent in Chino Hills (91709) and surrounding areas at (714) 485-3998.