SRE Investing is one of the most prominent names in Southern California real estate, and is seeing the highest levels of confidence in the real estate market since the recession, with considerable growth throughout California and across the US.
Jay Belson, SRE Investing CEO said, “The real estate market in California soared by 3.5% during April of 2013, adding up to an increase of 22.7% over the same period in 2012.”
In fact April 2013 marked the 14th consecutive month of growth for the real estate market in California, but this isn’t just confined to “The Golden State” as it is a growing trend across the whole country. A recent survey by Fannie May (April National Housing Survey), found 51% of Americans now have confidence in the real estate market, and feel that the industry is turning around and home prices will begin to increase once more. In contrast with the same period last year, just 32% of Americans expected to see home prices increase.
Another sign that things are recovering is the increase in the number of people who have put their home on the market. The survey found that some 30% indicated they would be putting their home on the market in order to take advantage of the higher prices and lack of inventory in some areas.
The resurgence of the housing market is also having a positive effect on home builders. The National Association of Home Builders stated that the association’s index of housing market confidence had risen to 44 points since April last year. Seth Philips, COO of SRE Investing feels that the number of foreclosure homes that had up until recently glutted the market has had an effect on this recovery. Foreclosures made up just 13.5% of April’s housing sales, down from more than 30% for the same period last year.
SRE Investing is headquartered in Beverley Hills, and specializes in Los Angeles real estate investing. Clients can participate as owners, lenders or as partners in investments.