The median price of a home in Pasadena this week is $899,000. The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.
Click here for a link to this week’s report.