Written by: Samantha Guarderas

According to the National Association of Realtors, there are not enough homes currently offered to purchase. The blame is being placed on home sales dropping in areas that had once been desirable. The housing market has been recovering largely in part due to investors. Investors overran places like Phoenix, Las Vegas, and Sacramento during the foreclosure crisis. When these home prices fell investors saw this as a chance to use this for future profit. These distressed sales were 24% of the total home sales in September.

So who is buying? Currently 32% of the market is made up of first-time homebuyers, which are down from the average 45% normally seen. The main issue faced, according to CNBC, is, “…regular home sellers are not putting their homes on the market at a high enough rate to offset the drop in distressed volumes.” Now, some analysts are beginning to expect even further sales drops in the coming months due to the drops in sales on the West. This drop is affecting the market because it has been controlling much of the gain. So while the numbers may show that sales of higher priced homes are up from 2011, we cannot ignore the market as a whole and understand that it is a small portion of its entirety.

According to The Wall Street Journal, regardless of the uncertainty for the future of the housing market, the numbers show us that home sales remain steady. Recently, our home located at 7561 Clinton Street, right off of the world-famous Melrose Avenue district, went into escrow after only 4 days of being on the market! Make sure to follow us on twitter and like us on facebook to be kept up to date with the latest information on real estate and our properties.

The listing agent on this property is Phillip Braunstein.