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Laura Smith Homes can help you define your home search – give us a call at 661-755-6420 or check us out online at laurasmithhomes.com.

Median home prices rose to their highest level since 2007 last year and home sales picked up.

Meanwhile, the number of home sales for the year declined 3.1 percent. But despite low inventories, the number of single-family homes, townhomes, condominiums and co-ops that sold in December 2014 rose 2.4 percent from November and were up 3.5 percent compared with December 2013.

The lack of homes for sale could cause problems for first-time buyers struggling to afford homes, says NAR Chief Economist Lawrence Yun. “A minimal selection and the potential for faster price appreciation could offset the demand from buyers encouraged by a stronger economy and sub-4 percent interest rates,” says Yun. “Housing costs — both rents and home prices — continue to outpace wages and are burdensome for potential buyers trying to save for a downpayment while looking for available homes in their price range.”

The percentage share of first-time buyers dropped to 29 percent in December, down from 31 percent in November, but up from a year ago (27 percent).

If you’re in the market for home in the Santa Clarita Valley, you need to call Laura Smith of Laura Smith Homes. Whether you’re in the military and need a home for your family, or you’re a senior who’s looking for that perfect senior community, Laura can find the right home for you! Laura Smith Homes has expertise to find the perfect home for you and we specialize in finding homes for members of the military and for seniors.

Check out our website laurasmithhomes.com to see some of the featured properties we can show you. They are in Valencia, Castaic and Canyon Country. Or give us a call at 661-755-6420.