Costa Mesa Real Estate Blog

Well, you might or might not already be familiar with the national home index called the Case Shiller home index - it tracks the rate at which homes (including pending sales) are being bought up off of the resale market, a very important indicator to us locally.

Unfortunately, our particular area is lumped in with los Angeles County, but it finally gave us the news that I have been blogging about for many months: home sales and this market are recovering.

Here are the stats from the most recent data:

June 2009
Month to Month: Up 1.1% (raw)
Month to Month Up 0.4% (seasonally adjusted)
Year to Year: Down 17.8%
Change from Peak: Down 41.3% in 33 months

What I will tell you locally is that we still have a major inventory problem, and those homes that are priced well and well positioned in the market are selling quickly.

Curious about buying or what the Costa Mesa real estate market is doing? Or curious what your Costa Mesa home is worth? Call me at 714-743-9882 or e-mail me at Colin@Verandahomes.com.