Arrowhead Woods home prices bounced back in October with a 6.6% gainover September. The best October in six years! The rebound is encouraging after a five month price slide. The sales chart on the right shows the sales falloff of 2014 from 2013. Sales volume in 2014 for Arrowhead Woods will be down about 5%. As I see it, the best news in Arrowhead Woods is the firm attitude of sellers illustrated by the ‘asking to selling’ price spread. In 2013, the discount from the ‘asking to selling’ price was 7%. In 2014 more confident sellers drew a harder line with a 3% discount in the ‘asking to selling’ price.
Consumer confidence appears to be the adrenalin activating buyers in the Lake Arrowhead vacation home market. Economists expect prices to continue to increase modestly – 3.5% to 4% in 2015. The Consumer Conference Board recently stated “Looking ahead, consumers have regained confidence in the short-term outlook for the economy and labor market, and are more optimistic about their future earnings potential”. This is a plus for Lake Arrowhead.
We’ll look into the details in the weeks ahead, to find the plus and minus of our market recovery for an even better 2015.