Home prices in California have continued to increase for the fifth month in a row adding up to a 14 percent increase from March 2009. [AssociatedPress]
The medium price of a home has increased to$235,000 from $223,000 in 12 months, according to San Diego-based MDA DataQuick.
Foreclosures accounted for nearly 41 percent of all sales.
Juice it’s $235,000 but it’s juggled numbers and propaganda from the government anyway, to try to give the homeowners some salvation, as I read the misleading article I saw some hope, when I read your post I have to agree, nope we have not hit bottom yet. There is tension everywhere you turn the friendly people are not so friendly anymore, and after they take away their houses, they/we may turn resentful towards the real culprits B.P. and Exon because of the billions they have made in current years while the country goes down the tubes in the war over oil.
Ooops! That was a reply to booty, sorry, I forgot to hit on reply after log in.
It is amazing how much they twist statistics hoping to paint a rosy picture. There are a lot of interests that want people to percieve a positive upswing in Real Estate.
More amazing that it’s not working – the market continues to sink.
Yes the median increased to $255k from $223k yoy, a 14% increase. No, the value of your house did not increase during that time, in fact if you live in the move-up range your house continued to lose value and will continue to do so for the foreseeable future.
The median price only increased because buyers have gravitated to where the majority of foreclosures are now occurring – up the food chain. And forget about 44% of sales being foreclosures. Add in short sales and fully two thirds of all sales are distressed. And guess what, the next 12 months will see an increase in foreclosures (most in the mid to high price ranges) to levels never before seen in human history.
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