CA Real Estate Market Heats Up in May
LA Times -- "Home sales and prices strengthened throughout the Golden State
in May, providing the latest evidence housing might be
snapping out of its long slumber. Sales popped 9.3% from April
and jumped 17.6% from May 2011 to total 41,790 new and previously-owned
houses bought statewide. The state’s median home price hit $270,000,
rising 2.3% from the prior month and up 8.4% from May 2011.
“It’s
not exactly a stampede, but people are starting to move off the housing
market sidelines in numbers we haven’t seen in quite a while,” DataQuick
President John Walsh said. “And it’s not just first-time buyers and
investors. There are more move-up buyers in mid- to high-end coastal
counties.”
Home sales in the Golden
State have posted year-over-year gains for 10 consecutive months and
foreclosures have steadily been making up a smaller share of the market.
Sales of distressed homes made up just 46.2% of the market, the lowest
figure since April 2008."
1 Comments:
Who would buy a home in a high tax like California when it is broke and threatening to go after any in the productive class that are dumb enough to stay?
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