With growing consumer confidence, the housing market in Burbank seems to be rallying. The numbers are not huge, by any means, but the steady rise is encouraging. A city like Burbank can’t stay down for long, anyway, because of the desirability of the area. The numbers outside the city do not seem to reflect the same success. Even as other parts of the country take longer to begin their slow rebuild, Burbank will see higher and higher numbers in each quarter.

When the existing home sales for the first quarter were released in May, there was a definite jump, with a rise of 7.6 percent. The sales weren’t the only thing that went up, either. Housing prices are beginning to find a better footing now, and rose 2.1 percent. This puts the median home price in Burbank at around $173,000. The condo market also followed suit, with gains up 9.1 percent for the first quarter.

This is where things really getting exciting, though. It’s telling enough to see the sales for existing homes showing such wonderful improvement, but new home sales were up 14.8 percent for the first quarter. This means that the supply of homes on the market was down 7 percent, which put the inventory lower than it has been for nearly 42 years.

It is easy to see that, as unemployment numbers are gradually shrinking and the faith in the economy is beginning to grow, the housing market will continue to rally. Expect to see the numbers creep steadily up over the next quarter, though you might need a year’s worth of data to see what everyone else is seeing. The point, though, is that it’s a great time to buy a house in Burbank, and you can finally do so without the fear that has plagued Americans for the last few years.