According to the September issue of “The Economic Watch” by local Economist Mark Schniepp who has been a guest speaker at a Ventura County Coastal Association of Realtors general membership meeting, home prices are going up.
In Ventura County the median single-family home selling price in May-July, 2012 was $426,543 as compared to $412,230 in February-April, a 3.5 percent increase.
The highest jump was in Los Angeles County where prices rose 12 percent, from $277, 470 to $310,837 in the same period. With mortgage rates at record lows, the labor market creating more jobs, apartment and single- family home rents rising, and the credit market slowly thawing, home buying has become a more attractive alternative for many households, says Schniepp.
