In our digital economy, international, national and local economies affect our marketplace. As we keep our eye on China, the Euro, the unemployment rate and other leading indicators, the news seems to show an upswing in several economic factors.
On the international scene, China’s lifting of some controls is the strongest sign that the government intends to change; according to the New York Times. Some have called the restructuring a symbolic move. But, since it signals a broader acceptance of western banking standards, there are hopes for a more efficient system.The Times went on to say that removing the deposit rate ceiling would be more meaningful.
The national economy is displaying long term signs of consumer confidence. Business research company; the Conference Group, reported this positive trend. They say leading indicators remain flat at 95.3, rising 1.7% over the last six months and 1.17% for the previous six months.
Meanwhile, ABC7 news reports the unemployment rate for the State of California has dropped. Their survey projects that eight in ten families plan to do shopping for the new school year for their children.
The southern California economy is also benefiting from an economic upturn. The Los Angeles Times reported that California Regional Banks are reporting stronger earnings and new loans.
According to Dataquick, southern California home prices were up 28% with “…median home prices reaching the highest dollar amount in five years.” They also took a six county survey and reported a slight decline in June 2013 sales.
Some economist are saying that since foreclosures are down, the financial recovery has launched. We believe there are more questions to be answered. Currently, from the local to the national market, inventory is tight. Will the addition of new inventory dilute market strength?
Demand for Big Bear real estate has been on the rise since 2008. If you intend to sell, now is a great time. Pent up demand is there.
Low interest rates still support a buyers market. Although inventory numbers have yet to rebound, there are deals to be made.
The real estate offices of Coldwell Banker are located in the heart of Big Bear, just 1 block from Vons and Stater Brothers. We have access to all of the information available on real estate in Big Bear. We have helped over 5000 families buy and sell homes in Big Bear, California.
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