California Realtors See Strong 2005
The California Assn. of Realtors predicted another strong year for the real estate market, with the state's median home price slated to rise 5.6%, reported the LATimes.com
Of course, it still comes down to interest rates - how far and fast they rise.
It has become almost accepted as fact that rates will rise this year, probably close to 7 percent. That increase will make Los Angeles and most of Southern California unaffordable for the far majority of residents.
Nonetheless, homes are expected to appreciate in price by almost 6 percent. While considerably lower than the double digit gains of last year, such a gain would still be historically high.
Many analysts and economists seem to believe that if the economy can strengthen, most California real estate markets might continue to appreciate, just at a slower pace.
Read more on this California real estate news story by click here.
Of course, it still comes down to interest rates - how far and fast they rise.
It has become almost accepted as fact that rates will rise this year, probably close to 7 percent. That increase will make Los Angeles and most of Southern California unaffordable for the far majority of residents.
Nonetheless, homes are expected to appreciate in price by almost 6 percent. While considerably lower than the double digit gains of last year, such a gain would still be historically high.
Many analysts and economists seem to believe that if the economy can strengthen, most California real estate markets might continue to appreciate, just at a slower pace.
Read more on this California real estate news story by click here.
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