In March, single-family and condo/townhome sales in the Santa Clarita Valley area increased by over 50%, the largest jump in sales since this time last year. The increase in Santa Clarita home sales coincides with a jump in the Fannie Mae Home Purchase Sentiment Index®, which saw a confidence in housing go up to 88.3, 2.5 percentage points higher than one month prior and 3.8 percentage points higher than one year prior.
“The boost was fueled by homebuyers preparing for real estate season this spring”, says Doug Duncan, chief economist and senior vice president at Fannie Mae. “The amount of buyers who believe now is a good time to purchase leapt to 32 percent—a 10-percentage point surge.”
With homebuyer demand high and housing inventory remaining low, March did see a slight reprieve in new single-family listings with an increase of nearly 10% from February 2018. While the number of new single-family listings saw a slight increase, the number of new condo/townhome listings jumped up over 49% from February, the largest increase this year.
The average sales price for single-family homes also saw an increase of over 7% from February to March 2018, while condo/townhome dipped by under 1% from month to month.
