2008 CALIFORNIA HOUSING MARKET FORECAST

THE CALIFORNIA ASSOCIATION OF REALTORS: 2008 CALIFORNIA HOUSING MARKET FORECAST
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, according to C.A.R.’s “2008 California Housing Market Forecast” released today.

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.

Jill Denton ~ Hometown GMAC Real Estate and Changing Spaces Interior Redesign & Staging

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