Californians have witnessed a real estate market boom, but how much longer can we expect gains of 40% annually?
CNN/Money's current article Money Magazine: Bubble trouble - Sep. 18, 2004 : says, "At the current rate of sales in Orange Country, there are now five months' worth of homes on the market, compared with just one month's worth earlier this year." The hot market of early 2004 when each listing created a new frontier in pricing is cooling off. In Southern California there are some multi-thousand dollar reductions, and even those priced at market are waiting 30 days or longer with fewer showings.
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