California Real Estate/Economic Forecasts

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.

If you are unable to see the video, please click here

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