pearl coast properties

pearl coast properties

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NEWPORT COAST LOCAL REAL ESTATE MARKET (SEPTEMBER)

NEWPORT COAST LOCAL REAL ESTATE MARKET
California Association of Realtors August Report: "July home sales climb to highest
level in nearly three years as prices remain near recent high. Existing, single-family
home sales totaled 449,530 in July on a seasonally adjusted annualized rate, up 2.7
percent from June and 12.7 percent from July 2014.- July statewide median home
price was $488,260, down 0.3 percent from June but up 5.4 percent from July 2014"
Again I must say, our local Newport Coast market is still continuing to have the same
trends as last year. 18 homes sold in August 2014 (8 of which were on the market
100+ days) and 10 in from August 2015. Pearl Coast Properties Economic Forecast
in August is on target. Newport Coast is still experiencing strong foreign buyers
because as economist call it, "Flight-to-Quality". "Flight-to-Quality" is when during
periods of economic or political uncertainty, the flow of money goes from risky assets
toward safe ones. Investors seek safe assets to protect their principal investments,
and to shield against loss. The great USA is a safe place! and China is experiencing
uncertainty. As said before Newport Coast is a world renown coastal community.
Are interest rates going to increase? The Feds meet in mid September. The late
August volatile stock market and the strong dollar (investments in US Bonds) can
keep rates down, but the recent job growth could increase rates. There is an overall
current volatility in the economy as seen on Wall Street and events

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