Southern California homeowners rush to sell: Listings up 42% to 4-year high

Are we about to feel the effects of the high Sacramento taxes, the low quality schools, high cost of living and taxes that are about to bury us?  Plus in 2020 a ballot measure that could kill hundreds of thousands of California jobs—the Split Roll Tax to increase property taxes on commercial and industrial property.  Already, one of the largest accounting firms in the State, McKesson, is leaving San Fran for Texas in Spring, 2019—while the getting is good.

“In the four counties …

4. Los Angeles County: 44 more days to sell in a year to 105 days; supply up 42 percent.
5. Orange County: 61 more days to 122 days; supply up 53 percent.
6. Riverside County: 42 more days to 134 days; supply up 24 percent.
7. San Bernardino County: 45 more days to 117 days; supply up 60 percent.”

Elections have consequences—the Democrat take over, totally, of Sacramento assures higher taxes and more job killing laws.  Is it time to flee to a Free State?

Southern California homeowners rush to sell: Listings up 42% to 4-year high

Southern California homeowners rush to sell: Listings up 42% to 4-year high

By Jonathan Lansner, San Bernardino Sun ,  11/19/18

Southern California homeowners are rushing to sell as the number of existing homes for sale jumps 42 percent in a year to a four-year high.

ReportsOnHousing tracks homebuying patterns found in real estate broker networks: supply (active listings); year-to-date increase in supply; demand (new escrows in past 30 days); and “market time” (a measure of selling speed of days it takes a typical listing to enter escrow).

Here is what you need to know from ReportsOnHousing’s take on Nov. 15 data for the four-county region covered by the Southern California News Group …

1. Supply: It’s up to 39,992 listings, the highest since November 2014. That’s up 11,762 residences for sale in a year or 42 percent. It’s up 25 percent vs. the six-year average.
2. Demand: Slow, with 10,307 new escrows, down 1,894 sales contracts in 12 months, a dip of 16 percent. That’s also down 16 percent vs. previous six years.
3. Market time:Be patient, sellers! 116 days vs. 69 a year earlier and an average 87 days in 2012-2017.

In the four counties …

4. Los Angeles County: 44 more days to sell in a year to 105 days; supply up 42 percent.
5. Orange County: 61 more days to 122 days; supply up 53 percent.
6. Riverside County: 42 more days to 134 days; supply up 24 percent.
7. San Bernardino County: 45 more days to 117 days; supply up 60 percent.

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