Recent data out of real estate firm CoreLogic shows that the Southern California housing market is still on the rise, the LA Times reports. A brief period of stagnation over the winter had some investors worried, but in April both home prices and home sales went up for the second straight month. The data shows that this summer will be a hot time for the housing market throughout California.
According to CoreLogic, home prices went up 6.2% this April from the same month last year. The median home price across the six-county Los Angeles area was $429,000. The number of sales also went up by 8.5%, year-over-year.
One reason why the housing market may be doing so well is that California saw quite a bit of job growth in April. All told, the state added 29,500 jobs, and the state unemployment rate fell to 6.3%. Rent prices are also still on the rise throughout California, which is pushing more young professionals and families to buy. Millennials currently make up a huge segment of the buying market and tend to favor areas in and near major cities, like Los Angeles.
Excellent Terms and Opportunities for House Flippers
All of this is great news for house flippers. With the right residential rehab loans, house flippers continue to make excellent profits throughout the state of California. Of course, there are few foreclosed homes on the market, but that isn’t slowing professional house flippers down. People who are finding the greatest success in the current climate are those who are ready to pounce when an ideal home goes on the market. These pros have a solid team behind them, have done their research, and have their house flipping loans in place.
Make sure that you are one of house flippers who stands above the crowd as the hot summer selling months progress by contacting ZINC Financial about our wide array of house flipping loans. Our team can help guide you through the current marketplace and provide you with funding in as little as seven to ten business days. Call 559.326.2509 now to learn why ZINC Financial clients turn to us for their investment funding time and time again.