SAN LUIS OBISPO, Calif. - The San Luis Obispo housing market appears to be growing. According to DataQuick, home sales in San Luis Obispo County rose 7.5% year-over-year.
According to a report by Davies Company Real Estate, home sales in Southern California hit their highest level for an August in six years according to LA Times. The National Association of Realtors recently said that the sales of previously occupied homes in the United States rose 7.8% in one month, between August and July, to a seasonally adjusted annual rate of 4.82 million. The increase in sales of previously occupied homes, coupled with an increase in the construction of new homes, and record low loan rates indicate that the U.S. housing market is in recovery.
With home sales on the rise the amount of available property is becoming more limited for many potential buyers. According to MercuryNews.com, in August of 2012 there were 2.47 million homes available, 18% less than were available in August 2011. Some property owners who bought when prices were inflated are still sitting on their homes, not willing to sell at current price levels. This is leading buyers to look to new construction for the houses they want.
Low inventory of homes has increased the demand for new homes, helping builder confidence reach its highest level in more than six years as reported by MercuryNews.com. Barry Rutenberg, The National Association of Home Builders (NAHB) Chairman attributes builder confidence to improved views of current sales conditions and future traffic of prospective buyers.
Though sales and construction levels are still lower than healthy levels, research indicates that the market is making steady improvements. There has been an increase in new home construction, housing starts and building permits. CNNMoney reported in June 2012 that housing starts are the highest they have been in four years.
Saturday, May 18 2013 11:15 AM EDT2013-05-18 15:15:59 GMT
LOMPOC, Calif. - The Lompoc Fire Department held its lottery on Friday morning for local groups to sell "safe and sane" fireworks for its upcoming Fourth of July celebration. Fire officials held a blindMore >>
LOMPOC, Calif. - The Lompoc Fire Department held its lottery on Friday morning for local groups to sell "safe and sane" fireworks for its upcoming Fourth of July celebration.More >>
Saturday, May 18 2013 1:26 AM EDT2013-05-18 05:26:42 GMT
LOMPOC, Calif. - Lompoc City Fire Department is bringing on six new firefighters thanks to a $ 1.5 million grant that works out to about $500,000 a year. "So the six new firefighters that we are swearing-inMore >>
$1.5 million grant used to hire six new firefighters and promote from within.More >>
Saturday, May 18 2013 1:24 AM EDT2013-05-18 05:24:06 GMT
LOMPOC, Calif. - Jack Rodenhi has been a CPA and tax accountant in Lompoc for more than 30 years. He says 501(c )4 charitable organizations are required to be involved in social welfare activities onlyMore >>
Century-old non-profit tax exemption at heart of IRS debate and scandal in Washington D.C.More >>
Saturday, May 18 2013 1:18 AM EDT2013-05-18 05:18:33 GMT
PISMO BEACH, Calif. - Pismo Beach Police confirm that a missing at-risk man from Lompoc has been found after a good samaritan saw his photo in the news. Pismo Beach Police say 24-year-old Blake LewoltMore >>
PISMO BEACH, Calif. - Pismo Beach Police confirm that a missing at-risk man from Lompoc has been found after a good samaritan saw his photo in the news.More >>