Tuesday, June 29, 2010

California home prices golden again, sales rusty

Since the home price trough in February 2009, single-family, detached home prices in California have risen a golden 32.3 percent from $245,230 to $324,430, as of May 10, according to the California Association of Realtors.

by Broderick Perkins
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Deadline Newsroom - California's home prices are literally skyrocketing again, soaring in some of the Golden States' largest metro areas by 30 percent to more than 50 percent in little more than a year.

The price surge may be an indication of California's readiness to take the lead again in the nation's housing recovery -- if it can only get its sales engine going.

Fence-sitters and those looking to go West and put down stakes?

Take note.

California's home prices have been known to take off like wildfires, burning buyers who waited for the bottom only to find it long gone and themselves priced out of the market -- again.

California led the nation as one of the states hardest hit by foreclosures and did not fully hit bottom until February last year, according to the California Association of Realtors (CAR).

However, since that home price trough in February 2009, single-family, detached home prices have risen a whopping 32.3 percent from $245,230 to $324,430, as of May 10, according to CAR.

Get the full story here: "California home prices shine golden again, sales rusty"

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
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