The real estate market in Southern California improved for the month of April over March. This is a subtle positive sign that buyers are more encouraged to look for housing. The same factors that have been holding buyers back in the past are slowly retreating – poor inventory, overpriced options, allayed competition from investors, and difficulty obtaining favorable government loans.

The counties of Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange saw new and resale houses and condominiums reach a total of 20,008 contracts. This sales total is 13.4 percent higher than last month’s figures of 17,638 sales and down 6.6 percent from 21,415 sales in April of 2013. Dips in sales also occurred in Riverside County – 10 percent in April from a year earlier – and a 3.1 percent drop for San Bernardino County. Total homes sales in Riverside County came to 3,384, which is 376 less than April 2013. San Bernardino County had 2,512 total sales, which are 78 less than April 2013.

Although these sales figures are down from April 2013, they are still higher than numbers seen in 2012 and 2011. This is promising for the Southern California region, with quickening sales possibly indicating a significant upward trend in the housing market. However, more inventory is needed to bring more buyers to the fore. Many are on standby because of job insecurity, hurting credit score, and either very minimal or no income growth for their families. Prices continue to rise as distressed properties continue to leave the market.

Source: http://www.pe.com/articles/sales-694572-april-percent.html