Each month Harb & Co crunch the housing numbers and compile the La Canada real estate statistics. Last month (October), 20 La Canada homes closed escrow. The absorption rate is 2.20% (months). Due to increased lender regulations (TRID) the days of closing loans in 14-30 days is a thing of the past, expect 45 day escrows as the new norm.
The share of first–time buyers declined for the third consecutive year and remained at its lowest point in nearly three decades as the overall strengthening pace of home sales over the past year was driven more by repeat buyers with dual incomes. Read the rest here:
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