California's Unsold Housing Inventory Shrinks To 5 Year Low - COTTONWOOD CA Homes For Sale
- Existing, single-family home sales increased 4 percent in December to a seasonally adjusted rate of 558,320 units on an annualized basis.
- The statewide median price of an existing single-family home increased 0.8 percent in December to $306,820, compared with November 2009.
- C.A.R.’s Unsold Inventory Index fell to 3.8 months in December 09, compared with 5.6 months in December 2008.
Numerous sources have suggested that a so called,"Shadow Inventory" would be "Dumped" on the market creating an increasingly large unsold inventory of homes. As we previously suggested banks would infact "manage" and release these inventories in a measured and orderly fashion. This appears to be happening and is having a stabilizing effect on home prices.
Buyers and Sellers Seeking Transaction Assistance With Cottonwood CA Homes For Sale Contact:
Phone: 530-370-1818 Email: steve@chainrealestate.net
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