Saturday, October 13, 2007

2008 Forecast for California Housing Market

The California Association of Realtors® has released their forecast for the 2008 housing market in California. What are they saying? "Home prices throughout most of California will post modest declines next year while sales of existing homes will stabilize from the precipitous decrease experienced in 2007 ... The median home price in California will decline 4 percent to $553,000 in 2008 compared with a projected median of $576,000 this year, while sales for 2008 are projected to decrease 9 percent to 334,500 units, compared with 367,500 units (projected) in 2007."

To read more: 2008 CAR Housing Forecast

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