CALIFORNIA REAL ESTATE MARKET UPDATE
By Alberto Pacheco, Experience and Trust
(Home Smart Evergreen Realty)
According to the California Association of Realtors the market is as follow: Existing home sales decreased 3% in January to 539,040 units. The statewide median home price of a home decreased to 6.3% in January to $287,440, a 15% increased frm the revised $249,960 median home price for January 2009. The median price of an existing, single-family detached home in California during January 2010 was $287,440, a 15 percent increase from the revised $249,960 median for January 2009. The January 2010 median price decreased 6.3 percent compared with December's $306,820 median price. Unsold Inventory Index for existing, single-family detached homes in January 2010 was 5.8 months, compared with 7.3 months (revised) for the same period a year ago. The index indicates the number of months needed...
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