Huntington Beach Real Estate

Huntington Beach is a relatively large city found in the Orange County region of Southern California. The Huntington Beach real estate market depends heavily on the larger trends experienced by the Southern California and Orange County areas. One potential problem facing Huntington Beach real estate is the foreclosure rate, as reported by the Orange County Metro. The article, written on February 16, 2010, noted that “Foreclosure notifications in Orange County rose slightly in January from the previous month, but the number still remains significantly lower than January of 2009’s figure.” According to an the piece, written by Carol Starcevic, further found that “The increase in third-party sales signals a growing trend in the distressed real estate market. The report indicates that investors are reporting increased competition and higher bids at auctions, bringing the average discount to 17.5 percent last month, which is down from 18.6 percent in December.”

Huntington Beach home sales decreased substantially in some areas during the later portion of January and some early days in February. The article, written by real estate reporter Marilyn Kalfus, found that “For the 22 business days ending February 5, DataQuick’s freshest homebuying stats show these trends in Surf City: City sales totaled 102 – that’s -8% vs. a year ago. Countywide, sales were +8% vs. a year ago in (the) same period.”The piece, published on March 1, 2010, continued to note that “Of the city’s 4 ZIP codes, 1 had sales gains vs. a year ago while 3 had a gain in their median selling price vs. a year ago. None of Huntington Beach’s 4 ZIP codes beat the 14.9% overall performance of the countrywide median for the past year.”

Huntington Beach real estate was heavily influenced by the larger trends of the Southern California real estate market. According to a February 17, 2010 article in the Los Angeles Times, “Southern California home prices rise 8.6%. But January’s year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier.” The piece, written by Alejandro Lazo, continued to find that “But compared with a particularly strong December, the median fell 6.1% to $271,500 in January, ending eight consecutive months of price appreciation or stability in the Southland, MDA DataQuick, a San Diego real estate research firm, said Tuesday.”

Categories: Real Estate  |  Tags: California, Huntington Beach, Huntington Beach California, Los Angeles Times, Orange County California, Real Estate, San Diego, Southern California  |  No Comments »