<div style="background-color: none transparent;"><a href="http://www.rsspump.com/?web_widget/rss_widget/twitter_widget" title="web widget">Twitter Widget</a></div>
California Real Estate Home Sales Are Up; Prices Are Down image

California Real Estate Home Sales Are Up; Prices Are Down


Jun 27, 2008 at 3:37 pm.
California Real Estate Home Sales Are Up; Prices Are Down decal



California finally received some good news for a change.  The real estate market in California has been one of the hardest hit states in the current housing crisis, but a local realtor group indicated that sales jumped 18% in May compared to May 2007.

This is good news for California Real Estate, but, don’t relax too quickly:  Even though sales are up, the prices for those sales are actually falling, as much as 35% during that same period, according to a report from the California Association of Realtors (CAR).

“Home sales exceeded 400,000 (on an annualized, adjusted rate) last month for the first time since early 2007,” said CAR President William E. Brown. “While this is a welcome sign for the market, it was due in part to the large share of distressed homes for sale in many parts of the state.”

May was the second consecutive month of increased sales for real estate in California, but that followed an ominous string of 30 consecutive months when real estate sales saw steady declines.

Related Topics



Comments

We're looking for comments that are interesting, substantial or highly amusing. If your comments are excessively self-promotional (use your real name, no keywords please), obnoxious, or even worse, boring, you will be banned from commenting. Your comment must be related to the post. Please do not comment on how great or wonderful the post is. All comments are moderated and, if approved, will display in less than 24 hours.



Popular Incoming Search Queries For This Topic

  • california real estate prices

This Post Is Filed Under The Following Categories

Real Estate News

Tags Associated with This Post

, , , , , , , , , , , ,

PGS Real Estate News Archives

March 2010  February 2010  January 2010  December 2009  November 2009  October 2009  September 2009  August 2009  July 2009  June 2009  May 2009  April 2009  March 2009  February 2009  January 2009  December 2008  November 2008  October 2008  September 2008  August 2008  July 2008  June 2008  May 2008  April 2008  March 2008  February 2008  January 2008  December 2007  November 2007  October 2007  September 2007  August 2007  July 2007  May 2007  April 2007  March 2007  February 2007  January 2007  December 2006  November 2006  October 2006  September 2006  August 2006  July 2006  June 2006  May 2006  April 2006  March 2006  February 2006  January 2006  December 2005  September 2005  July 2005  January 2004  April 2003  December 1969