California Home Sales:
Sales Rise As Do Prices
California Home Sales Are Up Over The Year While Prices Rise As Well
Here's a report from the LA Times that details the rise in California Home Sales numbers over the last year. The number of sales has increased 15% and prices are up 19%.
The report goes into much greater detail. It's by E. Scott Reckard.
"The California housing recovery boomed forward in November, with home prices reaching levels high enough to trigger questions about whether speculators are overdoing a spending spree....Los Angeles Times"
Is Speculation Driving The California Home Sales Market?
At this point, it seems to be the "common wisdom" that speculators and investors have driven market prices up above where they'd normally be in certain markets. But then again ... who knows more about the California home sales markets themselves than investors?
California Home Sales.