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 September 19, 2008

California Housing Market Leads the Way
An article came out today talking about California as being in the forefront when it comes to housing markets that are beginning to heat up. With the combination of decreasing prices and low interest rates, not to mention the pent up energy from those who have otherwise been patiently waiting, the California housing market is in perfect shape to withstand a surge in home sales.
There were nearly half a million home sales in Califoria for the month of July. This is up almost 50% from what it was a year ago. And it wasn't just July sales; the two previous months both sold over 400,000 homes.

Home inventory is also down from the year before. Last month there was more than a six month supply on the market compared to the previous year, where there was a ten month supply.