Leap Year, Leap Frog, Home Sales are Starting to Jump

Home sales were up in Southwest Riverside County in February, according to La Jolla based DataQuick. Experts, attributed part of the 5.9 percent year-over-year increase to February having one extra day because of Leap Year. You’ve got to love those experts!

According to the latest data, home sales were up throughout the six-county Southern California region with San Diego County leading the pack. In fact, our neighbors to the south pegged a 16.3 percent increase from a year ago; a mark that we think bodes well for our holdings in Southwest Riverside County.

“This is the place where all that pent up demand is heading,” says Rancon Founder and Chairman Dan Stephenson. “San Diego is spilling over into Southwest Riverside County from both a job producing and home buying perspective.”

According to Stephenson, the steady increase in sales throughout the southland is putting a dent in the inventory, and with the steady decline in notice of defaults, and foreclosures; a rise in home prices and property values is just around the corner.

“It’s more than a matter of simple economics,” says Stephenson. “It’s about being in the right place at the right time. “

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