SLUGGISH, MODEST, SMALLEST IN...
The rest of the story is (to quote Paul Harvey for those old enough to remember)... Published in the LA Times are reports of another hit to the real estate economy of Southern California. To spare you the pain of a long blog, we are slowing from a peak that has been building month after month since 2006, with roaring boosters in 2008 and 2012. Temper the high and low sales and prices when you think of Lake Arrowhead. As a resort, we don't climb as high nor drop as low as the permanent downhill homes of part time vacation owners.
Prices in LA and OC rose 3.72% from a year earlier, with homes sold down 17%. Arrowhead Woods prices rose 6.0% from a year earlier, with homes sold unchanged from a year ago.
All things considered, the Lake Arrowhead market is a beacon of stability. The only cloud over our mountain is inventory, with 180 home for sale, less than half of a normal number of homes listed. Peering brightly for buyers and seller is the four month of good news in the 30 year fixed mortgage rate now at 4.35%.
Adding to the unpredictability of this resort, Lake Arrowhead 2019, is that every measure of sales, prices, inventory, days to sell, are all near opposite numbers from the top notch economists doing their forecasts a year ago.