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

To: patron_anejo_por_favor who wrote (202016)	5/13/2009 12:37:10 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Realtors see ballooning Calif. house-price drops lansner.freedomblogging.com The California Association of Realtors’ housing forecast now calls for a 28.4% drop in the median price of a California house That compares to a projected drop of just 6% originally expected when the association first unveiled its 2009 forecast in October. In its revised forecast, the association predicts that: •The median house price will fall to $248,000 in 2009. In October, CAR expected the price to fall only to $358,000. •The projected drop comes on top of a 38% price decline in 2008, when the median fell to $346,400, down from $560,300 the year before. •House sales, however, are projected to be much better than expected back in October, with 550,000 houses sold statewide this year. •That would be a 25% increase from 2008, when 439,800 houses sold. •The revised sales outlook is pretty good considering that the state was down to 347,000 sales a year in 2007. •The 550,000 sales is revised from an earlier projection of 445,000 houses sold.