Written by gerwin on February 3, 2010 – 6:37 am
Real estate in California faces current issues and ins and outs in the market today.
Recently, areas in California most especially those in coastal lines are on a recovery stage in terms of rising new home prices. Other parts such as in the central portions of California remain to be stagnant and things are going normal.
Based from MDA DataQuick’s statistical analysis with regards to home prices, an increase of 15.2 percent in December compared to 2008 in the nine-county San Francisco Bay area have reached to $380,000 as its median home price. Also, the median home price drifted up 7.5 percent to $360,000 in Southern California area.
Moreover, according to DataQuick the median home prices in the eight-county Central Valley went down 11 percent to $142,000 on the same coverage of time.
Notably, the median home price in the Inland Empire counties of San Bernardino and Riverside median rocketed down to $180,000, with a 10 percent decrease compared to previous year.
Improvements occurred in California’s coastal areas were determined by the many jobs and growing availability of venture capital according to several economists. Trends hit California’s areas wherein they have been recovering despite of the economic downturns and economic instabilities.
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