Tuesday, October 24, 2006

2007 California Housing Market

The California Association of Realtors® (C.A.R.) has made it's prediction for next year's housing market. According to the CAR, "The rate of home price appreciation will post a modest decline next year following several years of steep increases, while the sales pace will decrease as the market stabilizes throughout 2007 ...The median home price in California will decline 2 percent to $550,000 in 2007 compared with a projected median of $561,000 this year, while sales for 2007 are projected to decrease 7 percent to 447,500 units, compared with 481,200 units (projected) in 2006."

To read more: 2007 California Housing Market Forecast

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