Corona Home values increased in 2009. In this crazy marketplace with all the negative news on the real estate market with foreclosures and short sales looming everywhere, this information is a breath of fresh air.
A far cry from the tremendous decrease in values over the past few years (although most of us agree homes were over inflated anyway) seeing that home actually INCREASED in value over the past year gives a ray of hope for existing home owners.
The numbers were run on Terradatum's Broker Metrics, a product which it obtains directly from the MLS. Single Family Detached homes in Corona, CA INCREASED 16% from Jan 2009 to Dec 2009.
From a Buyer perspective, this number can be very frustrating. Most buyers had a very difficult time purchasing a home in the last half of 2009. With inventory (homes available for sale) decreasing every month in last half of 2009 and a large supply of buyers resulted in Multiple offers on most properties which in turn was a contributing factor in the increase in pricing.
Typical economics, decreasing supply and high demand will drive prices up. Although pricing may be dancing slightly up and down over the next year, banks will be the biggest contributor to the rise and fall of prices. After what they have done to the market thusfar, that is a really scary factor. Let's pray they do not raise interest rates to high and to fast or start foreclosing on homes in the rapid fashion that they did in 2008.
To view the statistics click on this hyperlink Corona Real Estate Home Values
For further information on the market and obtain additional market statistics go to our website http://www.RobertandChristy.com .
If you do not live in Corona and would like home values on your home or market statitics for your city or neighborhood, let us know we would be happy to help.
God Bless,
Robert & Christy
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1 comment:
That is awesome news! It sure isn't the negative news we keep hearing on tv or radio.
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