Wednesday, May 11, 2011

Last year's bottom of housing market "just branches on the way down."

Zillow, which operates a popular real estate market website, now predicts that home prices nationally won't hit bottom until 2012 at the earliest.
Locally, the Sacramento Association of Realtors this week released April home sales figures for Sacramento County and West Sacramento.

The area saw the median resale price for a single-family home drop to $169,900 in April – down 8.2 percent from April 2010. It was the ninth straight month without a year-over-year increase.

The April median was slightly higher than the March figure of $166,000 – the lowest monthly median sale price since March 2001.
Residential real estate deflation continues as the air keeps escaping the Big Bubble of the 2000s.

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