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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (8268)	1/25/2003 9:32:37 PM
From: David Jones	Respond to of 306849

Not to change the subject but around here, real estate wise, things around here keep chugging along. story.news.yahoo.com CA Home Prices Kept Climbing in December Sat Jan 25, 5:00 PM ET Sue McGuire for KCBS-740 AM (AP) -- Low mortgage rates and the uncertainty of other investments continue to drive California's red-hot housing market, with the median price of a home reaching a record $282,000 last month. A total of 50,400 homes and condominiums were sold statewide in December, up 7.9 percent from November and 18.4 percent from the same period a year ago, according to statistics released Friday by DataQuick Information Systems. It was the strongest December since Dataquick began keeping records in 1988. ``There's no indication of any upcoming crash,'' said John Karevoll, an analyst with the real estate tracking firm. The statewide median home price -- the point at which half the homes sold for more and half for less -- increased 15.8 percent last month, up from $243,500 in December 2001. For 2002 as a whole, 595,877 homes were sold, up 12.5 percent from 529,860 in 2001. In some areas, home prices stayed relatively stable over the past two months. In the nine counties comprising the San Francisco Bay area, for example, the median price in December was $416,000, the same as the month before. Annual price increases, however, ranged from about 10 percent in the San Francisco Bay area to 25 percent in the San Diego area and 17 percent for the rest of Southern California.