Panel: Real estate in 2006 will stabilize. The Central Valley is emerging as an independent real estate market within California, and although booming activity in recent years may be slowing, experts say the market will continue to grow strong in 2006. Those were the impressions left by a panel of real estate experts at the third annual Real Estate Forecast, organized by the Economic Development Corporation serving Fresno County. Click here to read more.
California home sales hit four-year low in January. California homeowners saw their home equity swell during the real estate boom as home prices soared, but those now looking to sell or trade up to bigger homes are finding it increasingly harder to find buyers. The number of homes sold in the state fell to a four-year low in January, the fourth month in a row that annual homes sales have declined. The statewide rate of home price increases peaked in June 2004 at 23.2 percent and has gradually declined ever since. The trend is another sign that the state's once-sizzling real estate market is cooling, leaving some home-sellers in a bind in the process. In all, 38,300 new and resale houses and condominiums were sold statewide last month, a decline of 27.5 percent from 52,800 in December and down 9.5 percent from 42,300 in January 2005, the real estate research firm DataQuick Information Systems reported Thursday. Last month's home sales were the lowest since 38,137 homes were sold in January 2002, the firm said. For several months real estate agents have reported homes are staying on the market longer as prices have continued to climb. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
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tina.jan@coldwellbanker.com
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