Compton’s market recovered from the collapse a lot faster than it probably should have. Zillow currently estimates that values have gone up 10.00% with another 2% increase in the coming year. Values are higher than they were before, but growth may have happened far too quickly. Property value averages currently sit close to $345,000, and that rapid growth has finally slowed down.
Things inflated a little too quickly, which left the market in a neutral standstill and at a shockingly low level of health. This can be bad news for every homeowner – even if their properties would be considered highly desirable to the average buyer.
Another issue plaguing Compton’s real estate market is foreclosure. In the US, one in every 10,000 homeowners will face foreclosure annually. In Compton, 3.2 houses are foreclosed on per every 10,000. This has put a lot of homeowners in an unfortunate position.
They need to sell quickly in order to avoid the blemish of foreclosure on their financial records, and finding a buyer in a short amount of time has become increasingly difficult. It’s frustrating, but if you’re one of these homeowners, don’t lose hope.