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The President/CEO and team of professionals at Diamond Real Estate Group have collectively sold thousands of homes. 

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Diamond Real Estate Group, Inc.



The Southern California housing market, known for its dramatic swings, is settling into a more normal, healthy pattern.

Home sales are up. All-cash and investor purchases are down. And home prices are rising at a more sustainable pace than in the last few years.

Economists said those factors put the regional housing market on a path for growth that won't wash away in a tsunami of foreclosures and ruined credit scores.

“The healing continues,” said Stuart Gabriel, director of UCLA's Ziman Center for Real Estate

Notably, it appears more families are entering the market as the economy improves. Although still elevated in comparison to long-term averages, the share of absentee buyers — mostly investors — slid to 21.1%, the lowest percentage since April 2010, CoreLogic said.

“This is the real recovery,” Christopher Thornberg, founding partner of Beacon Economics, said of a market where increasingly buyers actually want to live in the houses they purchase. “The last was the investor recovery.”

Sustained job growth has given more people the confidence to buy houses, CoreLogic analyst Andrew LePage said.

The housing market improvement extends nationally, with sales of previously owned homes up in May to the highest pace in nearly six years, partly because more first-time buyers entered the market, according to data from the National Assn. of Realtors.

One factor driving deals is an expected decision from the Federal Reserve to raise its short-term interest rate later this year, real estate agents say.

In response, families rushed to lock in historically low rates this spring, agents say. CoreLogic's sales figures represent closed deals, meaning most went into escrow during May.

For now, deals are on the rise and people are paying more.

Sales and prices climbed in all six Southland counties: Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura.

The sales increase, the largest in nearly three years, put the number of sales just 9.6% below average, CoreLogic said. A year ago, sales were nearly 24% below average.

Make no mistake.  The time is now.


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Featured Listings

35 Results Price (high to low)
$299,000 Active Under Contract
28089 Lemonwood Drive
Menifee, CA 92584
3 beds, 2 baths | Single Family Home
1,299 sq ft; lot: 4792 sq ft
$284,900 For Sale
28169 N Orangegrove Avenue S
Menifee, CA 92584
3 beds, 2 baths | Single Family Home
1,299 sq ft; lot: 4792 sq ft
$279,900 For Sale
25831 Sun City Boulevard
Menifee, CA 92586
3 beds, 2 full, 1 partial baths | Single Family Home
2,217 sq ft; lot: 8276 sq ft
$256,900 For Sale
28118 Windsor Drive
Menifee, CA 92586
2 beds, 2 baths | Single Family Home
1,090 sq ft; lot: 7405 sq ft
$249,900 Active Under Contract
28179 Portsmouth Drive
Menifee, CA 92586
2 beds, 2 baths | Single Family Home
1,379 sq ft; lot: 6970 sq ft
$235,000 For Sale
26478 Olson Avenue
Homeland, CA 92548
3 beds, 2 baths | Manufactured Home
1,400 sq ft; lot: 19602 sq ft
$229,900 For Sale
26524 McCall Boulevard
Menifee, CA 92586
2 beds, 1 full, 1 partial baths | Condo/Townhouse
1,767 sq ft; lot: 3485 sq ft
$219,000 For Sale
26200 San Quintin Road
Menifee, CA 92584
3 beds, 2 baths | Manufactured Home
1,100 sq ft; lot: 7841 sq ft
$199,000 For Sale
20500 Markham Street
Perris, CA 92570
lot: 0.94 acres | Residential Lots & Land
$195,000 For Sale
28180 Calle Gaviota
Menifee, CA 92586
2 beds, 2 baths | Single Family Home
977 sq ft; lot: 3920 sq ft
Open House Saturday Apr 20, 11am–3pm
$194,900 For Sale
29364 Murrieta Road
Menifee, CA 92586
2 beds, 2 baths | Condo/Townhouse
1,017 sq ft; lot: 1307 sq ft
$159,000 For Sale
Perris, CA 92570
lot: 2.27 acres | Residential Lots & Land
$100,000 For Sale
Riverside, CA 92502
lot: 8276 sq ft | Residential Lots & Land
$2,395 For Lease
31741 Rouge Lane
Menifee, CA 92584
6 beds, 4 baths | Single Family Home
3,130 sq ft
$1,495 New For Rent
27878 Red Dawn Drive
Menifee, CA 92585
2 beds, 2 baths | Rental
927 sq ft; lot: 4792 sq ft
Listings 21-35 out of 35 Previous 1 2           Next

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