In this video, California Association of REALTORS economist Leslie Appleton Young speaks to agents but it is good information for everyone. A couple of takeaways:
- Median home price in California has plummeted because of foreclosures.
- The California real estate market bottomed in 2007. Sales have increased dramatically in the last two years.
- The dollar volume of sales will have bottomed this year. It will be flat in 2010.
- Statewide numbers aren’t as important as local data (Follow my Marin market statistics!)
- If the government does not put more policies in place to put people to work and fuel job growth, the recession will go on for quite some time.
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