CA Ranked 3rd Best U.S. Home Market
“It is widely held that California, which was among the first states to enter the market downturn, will also be among the first to recover, and we see evidence of that recovery underway. This report references the entire State of California, but the outlook is even more promising for Orange and Riverside counties. There are solid signs of recovery leadership for those counties within the State,” commented First Team Real Estate.
The full report / article can be found at ‘Lansner on Real Estate’:
California had the nation’s third-best housing market in September, CoreLogic reports.
Of course, things are worrisome if third best means a gain of 0.86 percent in a year — yes, less that a full percentage point!
Tops on the list for year-over-year price gains for all transactions — distressed sales, included — was New York (up 2.67 percent) then North Dakota (a 1.73 percent gain.) After California came Nebraska (+.78 percent), and Virginia (+.77 percent). Note: California ranked No. 6 in August!
The bottom? Idaho (-14.04 percent), Alabama (-8.9 percent), Mississippi (-8.3 percent), Florida (-7.68 percent) and New Mexico (-7.47 percent).
Nationwide in September, CoreLogic clocked home prices declining 2.79 percent, year over year.
Mark Fleming, chief economist for CoreLogic: “We’re continuing to see price declines across the board with all but seven states seeing a decrease in home prices … This continued and widespread decline will put further pressure on negative equity and stall the housing recovery.”