The 1.4 months inventory (reflected in the absorption rate) indicates an extremely favorable market for Pasadena home sellers.
What’s in store for real estate in 2016? “This year the housing market may only squeak out 1% to 3% growth in sales because of slower economic expansion and rising mortgage rates,” Furthermore, the continued rise in home prices will occur due to the fact that we will again encounter housing shortages in many markets because of the cumulative effect of homebuilders underproducing for multiple years. Once the spring buying season begins, we’ll begin to feel that again.” Read the rest here:
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