9/26/2005

Still A Moderate Price Increase in 2006

California Association of Realtors is forecasting continued home price appreciation next year, but the huge increases of the last seveal years will decline, as will the number of homes sold. The shortfall of available housing units, in C.A.R's 2006 forecast, about 50,000 annually, will continue to fuel California's housing economy. The median price statewide is expected to rise to $575,000, although certain areas will not experience as much of a price climb as others. Declining affordability has led to the development of new buyer assistance programs, and also a wave of loan products that inject more risk into the market for some buyers. Read here for more.

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