Preview: Residential Rebound

Low interest rates plus people working and schooling at home have produced an uptick in the single-family home market.For the month of September, San Fernando Valley home sales totaled 525 properties, an increase of 15.9 percent from a year ago, and 121 percent higher than in May, according to data from the Southland Regional Association of Realtors.Those numbers tell the story of a strong market turnaround from the coronavirus-induced plunge earlier this year.“Buyers planning to buy during the second quarter of 2019 put their search on hold as a result of COVID-19,” said Eli Tene, co-managing director of Peak Century 21 in Woodland Hills. “When lockdowns were lifted, these buyers came roaring back to the market looking for larger spaces more amenable to both a remote working environment and having family at home.” Read the full story in the Nov. 9 issue of the San Fernando Valley Business Journal.