Arrowhead Woods improvement in the first quarter OF 2014 is a bit above the state and national markets that have waned in 2014. Pretty good performance for our small mountain resort.
2013 is 16% higher in home values than 2012;
2014 is off to a good start.
Recent months have seen a flattening of prices, nationwide and nearly so in Lake Arrowhead. The torrid pace of 2013 brought a 16% price increase in Arrowhead Woods above the 12 months of 2012. Prices rose from a 2012 year end median of $275,000 to $319,250.
It is very exciting to see Arrowhead Woods match the 20 City Composite!
Mark Zandi, chief economist at Moody’s Analytics says interest rates have climbed from a year ago – slowing growth and giving the housing market a breather to let the economy catch up.
To the benefit of home sellers, the inventory of available homes for sale in Arrowhead Woods has risen to 275. A better number of listings is an encouragement to buyers. Without enough homes to see, they leave the mountain.
David Cabot, chief executive of Berkshire Hathaway Home Services sees spring getting off to a good start with buyers and sellers both testing the market.
“We think the spring season should be very healthy.”