C.A.R. Realtors / Economists  http://www.car.org/  provide useful information about California Real Estate. They also analyze data in regards to the unemployment rate, job growth and population changes. The unemployment rate is defined as the percentage of the people classifed as unemployed as compared to the total labor force. All of these factors affect the real estate market by affecting the demand for housing and the ability to pay for it.

Here are some sample statistics provided by C.A.R. in regards to the California from 2002 to 2004 :

Unemployment rate - (2002) = 6.7 % - (2003) = 6.7 % - (2004 )= 6.4 %

Job Growth - (2002) = -0.8% - (2003) = -0.3% - (2004) = 1.0 %

Population Change (2002) = 1.5% - (2003) = 1.5% - (2004)= 1.5 %

Here are some figures in regards to the changes in the California Median Sales Price from 1983 to 2003 :

Los Angeles County - (1983) = $118,545.00  - (2003) = $ 354,740.00 , a 300 % increase !!! The average per year is 15.0 %

San Franisisco - (1983) = $133,730.00 - (2003) =  $ 558,100.00 , a 417 % increase!!! The average per year is 20.8 %

The numbers are amazing these are just two of the major cities here in California.  

Eddy Martinez

Best Rate Funding - Direct Lender - Wholesale Rates

Senior Loan Consultant

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