The year 2010 brings to a close one of the most volatile decades in the history of the California real estate industry. Median home prices increased at an unprecedented rate to all-time highs five years ago, while the second half of the decade witnessed the sharpest decline in home prices ever recorded. It’s hard to imagine that the same ten years that saw homes being purchased sight-unseen at twenty percent above asking price also experienced widespread foreclosures and lofty inventories of properties for sale.
Home builders that were once purchasing as much land as they could find were soon abandoning partially completed developments. Homebuyers that once struggled to find a home they could afford were suddenly availed to a wide array of reasonably priced houses. It’s also now very easy to find an excellent place to search for California real estate listings. So now that the California real estate rollercoaster has rapidly taken us up and down, what does the future hold?
Excitement aside, it seems safe to say that California home market stability would be much more favorable when compared against the extreme fluctuations experienced over the previous decade. Thankfully most California real estate economic indicators over the past several months do point towards a leveling out of housing values. You can find peruse California homes for sale to review the prices. However, the primary concern in the back of every real estate professional’s mind is whether a second wave of foreclosures will negatively impact housing values in the near future.
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