Slower Rise In Malibu Home Prices Offer Opportunity

by ritasimpson on August 30, 2013

in How's The Market

Prices have continued to rise for Malibu properties in the second quarter but we are already experiencing a slowdown in activity in sync with the broader market. If you have been planning on purchasing a Malibu home, Malibu beach house or Malibu land, the coming months will be offer great opportunities for striking the best deals.

According to the S&P/Case-Shiller Home Price Indices,  home prices continued to increase in June across the nation, but have been slowing down since July.  In the second quarter The National Index grew 7.1 percent  and 10.1 percent over the last four quarters. The 10-City and 20-City Composites posted returns of 2.2 percent for June and 11.9 percent and 12.1 percent over 12 months.

  • California was home to six of the nation’s 10 fastest markets: San Jose (#1), San Francisco (#2), Ventura (#3), San Diego (#4), Riverside (#7) and Sacramento (#9). San Jose (Silicon Valley), CA was the fastest-moving market, with 44.7% of homes under contract within two weeks of their debut, a slowdown from 46.3% in June. While the small and unique Malibu  community registered a  notable 10.46 % increase in  Malibu home sales volume and a 7% increase in the Malibu home Median price over last year.

All 20 cities posted gains on a monthly and annual basis. However, in only six cities were prices rising faster this month than last, compared to 10 in May. Dallas and Denver reached new all-time highs as they did last month, with returns of 1.7 percent each in June. San Francisco’s rebound is the largest, up 47 percent from its low in March 2009. But according to RedFin the pace has been slowing down for 3 consecutive months now.

 

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