Good luck, homebuyers. Denver’s housing inventory is lowest in 32 years

A home for sale on Feb.
Homebuyers faced slim pickings in February, even though the number of home sales showed a big drop from January.

Metro Denver had a record low number of homes for sale at the end of February, but a surge in sales can’t be blamed for the empty shelves.

There were 3,878 residential properties available for sale at the end of February, the lowest monthly total in records going back to 1985. The inventory was 2.14 percent below the previous bottom reached in February 2016, according to a report Friday from the Denver Metro Association of Realtors.

“It is incredibly low,” said Steve Danyliw, a Denver real estate agent and chairman of DMAR’s Market Trends Committee, which compiles the monthly housing market update.

The new low came despite a 19.25 percent year-over-year surge in the condo inventory last

... read more at: http://www.denverpost.com/2017/03/03/denvers-housing-inventory-lowest-in-32-years/

Why some people are fleeing Southern California

Longtime Irvine resident Helen Tornquist is calling Big D home now after volunteering for a transfer to north Texas.

Her kids moved out. Her marriage is over. And she had planned to retire out of state anyway because California is just too expensive. Last year, she sold her four-bedroom home of 13 years and moved to the Dallas area, where she manages a customer call center.

“I reached out to my boss and said, ‘I am available to go to a new location. Where do you want me to go?’” said Tornquist, 57, a graduate of both UC Irvine and Cal State Fullerton. “California is a great place to be, but it’s pretty expensive. And it’s getting pretty crowded.”

Tornquist is one of thousands of Southern California residents who each year is throwing in the towel and moving out of state.

During the first 10 months of 2016, 5,706 residents of Orange, Los

... read more at: http://www.ocregister.com/articles/california-746250-state-county.html

Why some people are fleeing Southern California

Longtime Irvine resident Helen Tornquist is calling Big D home now after volunteering for a transfer to north Texas.

Her kids moved out. Her marriage is over. And she had planned to retire out of state anyway because California is just too expensive. Last year, she sold her four-bedroom home of 13 years and moved to the Dallas area, where she manages a customer call center.

“I reached out to my boss and said, ‘I am available to go to a new location. Where do you want me to go?’” said Tornquist, 57, a graduate of both UC Irvine and Cal State Fullerton. “California is a great place to be, but it’s pretty expensive. And it’s getting pretty crowded.”

Tornquist is one of thousands of Southern California residents who each year is throwing in the towel and moving out of state.

During the first 10 months of 2016, 5,706 residents of Orange, Los

... read more at: http://www.ocregister.com/articles/california-746250-state-county.html

As Philly’s housing market forges ahead, suburban prices still limp along

The Philadelphia suburbs aren’t what they used to be — at least when it comes to home-sale prices.

For the fifth year in a row, the suburban counties saw a near-negligible increase in median home-sale price, ticking up just 0.9 percent overall in 2016 to end the fourth quarter at $231,000. (Median is the middle number; half the houses sold for more, half for less.)

When compared to the city, where the median home-sale price jumped 8.6 percent year-over-year to $140,000, it’s clear the suburbs are not experiencing the same residential renaissance.

“In the 1980s, no one wanted to live in Philadelphia,” said Forrest Huffman, a professor of finance and real estate at Temple University. Instead, he noted, people swarmed the suburbs, seeking land and good schools and jobs.

Today, Huffman said, baby boomers and millennials “have a much better take on Center City and the urban environment … better access, public transit,

... read more at: http://www.philly.com/philly/business/real_estate/As-Philly-housing-market-forges-ahead-suburbs-still-.html