Pasadena Housing Market Reports


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The question on peoples mind these days is “where are home prices headed” ? On one hand you have the group who thinks the market has reached bottom and is beginning to bounce. They quote the historically low interest rates we currently have along with an increasing number of distressed properties that are luring buyers back into the market. On the flip side, there are the same number of people who cite the unemployment rate, the current economic situation, along  with the relatively high cost of home ownership here in California compared to other housing markets across the country. For these people the glass remains half empty.

Pasadena Single Family Median Price & Inventory

Pasadena Single Family Median Price & Inventory

It was Robert Frost who penned “The Road Not Taken” in which he stated: ‘”Two roads diverged in a wood and I – I took the one less traveled by, And that has made all of the difference”.

In this particular analogy, he seems to go against the tide and take a contrarian viewpoint. But to have a contrarian view, there has to be some sense of agreement in what the masses or the majority either believe in and therefore follow. Therein lies the disconnect.  I don’t believe with all of the conflicting data we have, a consensus will be reached. From the published reports I have seen recently, most would indicate they do believe the worst is over.

To me, there is evidence the market is turning around as indicated by the latest moves in the median price of a Pasadena home. It now appears that home prices are poised to exceed the $500,000 price point for the first time this year and home sales will once again exceed 100 units.