Prices drop?
You may have heard that the median home price in California dropped. The median price of a home in September was $544,000, down more than 4 percent from August 2005. No, it’s not a slow leak in the bubble.
“The September median home price compared with August has fallen every year since 1993, and in 20 of the last 26 years,” said California Associaton of Realtors. President Jim Hamilton. “This year is no exception and is part of the seasonal shift to an off-peak period in the real estate market as we approach year’s end.
“Despite the seasonal slow down for the market as a whole, the median price in the High Desert, Riverside/San Bernardino, Santa Barbara South Coast and San Luis Obispo regions hit record highs last month,” he said.
We will wait to see what happens in March when peak season hits again.