Wednesday, May 17, 2006

I Got Your Single Digit Right Here

Link To This Post.
I Got Your Single Digit Right Here.

Single-digit price appreciation, that is.

It's in a story in today's Los Angeles Times, by Annette Haddad:
An almost-forgotten condition has returned to Southern California's housing market: single-digit price appreciation.

The region's median home price rose 9% last month, the first time in 4 1/2 years that the year-over-year increase was under 10%, data released Tuesday showed. Sales took their biggest percentage drop in 11 years.

The figures were the strongest signs yet that the Southland's housing market is ending its 5-year-old boom.

The experts call it a market in transition. It's not the same red-hot sellers' market of the last three years, but it's also not a buffet of bargains for buyers either. Regardless, neither side seems imbued with a sense of urgency.
Read the story at this link.

-- The Boy in the Big Housing Bubble