California Assoc of Realtors reported……
Median priced home values were pushed up resulting in the largest year over year price gain in over 30 years.
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Inventory decreases Values continue to Rise
30 year fixed mortgages fell in September 12 to a record low to 3.47 from 3.6. while in August rates were 4.1 percent.Total exsisting home transactions fell 1.7 %
Lawrence Yun , NAR chief economist, said the market trend is up. “Despite occasional month-to-month setbacks, we’re experiencing a genuine recovery,” he said. “More people are attempting to buy homes than are able to qualify for mortgages, and recent price increases are not deterring buyer interest. Rather, inventory shortages are limiting sales, notably in parts of the West.”
The National median home price incresed again last month making that the 7th month of continual home v