Friday, July 17, 2009
California Real Estate Update-7
"California's median price for existing homes rose 1.4% in April from March, marking the second consecutive monthly increase in housing prices and prompting some industry officials to declare that the state's long swoon in housing values could be at or near the bottom. ... It was the first back-to-back increase in the state's housing prices in two years. ... April also marked the eighth consecutive month of single-family home sales about 500,000 units. The inventory of unsold homes continued to shrink, to 4.6 months' supply from 9.8 months a year ago", Jim Carlton at the WSJ, 29 May 2009, link: http://online.wsj.com/article/SB124353047811163187.html.
"California's median price for an existing single-family home rose for the third straight month, a sign that the state's battered real-estate market may be bottoming out. ... Prices were still well below their year-ago levels, down 30.4% compared with May 2008", Stu Woo at the WSJ, 26 June 2009, link: http://online.wsj.com/article/SB124597490775357441.html.
The long slide in California real estate appears over.