1st California Real Estate Gain Since August 2007

Carpe Diem has some great news for the California real estate market. It seems that California’s real estate has stabilized and is showing signs of life.

The March 2009 median price rose 2.2% compared with February’s $247,590 median price. “The statewide median price showed the first monthly increase since August 2007, and has remained in the $250,000 range over the past three months,” said C.A.R.’s Chief Economist Leslie Appleton-Young. “A number of regions around the state also have registered monthly gains for one or more months since the beginning of this year. While these are welcome signs, it remains to be seen whether home prices have stabilized.


26 Responses to “1st California Real Estate Gain Since August 2007”

  1. 1 Melissa Schmitt April 29, 2009 at 10:07 AM

    i think that it is a great ting that the real estate prices have finally gone up. This allows people to believe that there is a possibility that the economy has already hit bottom and will start to rise. Hopefully the pice of the homes will continue to rise and people will be more comfortable will the economy. It can rise consumer confidence and hopefully people will start to spend more money to continue stimulating the economy.

  2. 2 Leonardo Sanchez April 29, 2009 at 2:04 PM

    i also agree thanks to the house market rising it may raise our people of America to think positive. It may all be all a chain

    reaction. For example if houses go up then sales in any business goes up then the economy goes up. But then is this just a fluke/

    a one time thing / or is this the real deal? wheather it is or not the ending of a depression and the begining of a new start

    we are at least staring to see the light at the end of the tunnel to a better world than maybe than ever before because now

    we have experience of mistake our society have done in the past!

  3. 3 Leonardo Sanchez April 29, 2009 at 2:06 PM

    oops! We have experiences now of the “MISTAKES AS A WHOLE” our society have done in the past! is better said.

  4. 4 Andrea Nemeth April 29, 2009 at 2:11 PM

    its great to hear that californias real estate market is finally starting to move for the better. it would be nice to finally have it turn around. it would show us all that the recession is moving towards a close and finally ease the pressure on everyone.

  5. 5 Heidi11 April 30, 2009 at 6:06 PM

    I agree that this will hopefully raise consumer confidence. Especially since so much focus throughout the recession has been on the housing market “bubble” and people are seeing the value of their homes plummet for what seems to them like no good reason, this can only be a good thing. A positive turn in the housing market will hopefully be a significant indicator to consumers that it is not so risky to start spending more normally, and this will spread throughout all sectors of the economy.

  6. 6 lalves May 3, 2009 at 7:40 AM

    This article prooves the point that America is slowly, but surely working its way out of the depression. If more positive article like this one were posted and read, I believe that the jump out of the recession would be even quicker. The reason being is that right now people are scared to spend their money because they are afraid worse times are to come. Yet with all of America saving its money, spending is down, which in turn hurts the economy. If people can be convinced that it is okay to spend, the economy will be much quicker to turn around.

  7. 7 el Bouzkouri Youssef May 3, 2009 at 3:17 PM

    Hopefully this rise in real state prices will restore some confidence in the economy by the consumers. This also indicates that the economy hit bottom and started to pick up. This sign is what was missing because everybody was waiting for the bottom and for prices to decline even more causing a deflation.

  8. 8 jenna s May 4, 2009 at 11:04 PM

    This is a good sign that consumption, investment, and thus, GDP is on the rise. It is a good indicator that the economy is stabilizing, and more people are looking to spend their money. This is probably good new for property owners who have feared the value of their homes have decreased significantly. However, many people who have been waiting for prices to drop even more may find that they have missed the train. Prices have increased, and so now buyers are looking to snatch up a deal before prices start to greatly increase. Overall, this is good news for the economy.

  9. 9 Marilyn Monroe May 5, 2009 at 9:57 AM

    The United States is definitely working its way out of the great recession. Finally, the real estate prices have gone up. Hopefully this will lead consumers to start spending because the recession has scared consumers into saving money and not spending. By spending more money; consumers will be able to stimulate the economy growth. Then companies will not go bankrupt and the recession will begin to bounce back to a stable economy.

  10. 10 Luis A. May 5, 2009 at 4:18 PM

    This is great news to hear because people are panicking too much. to hear some good news like this will be very beneficial since people are so worried. This will reassure the people that things are taking a better turn and we can begin to do the things we couldn’t do before. Although the real estate has been one of the root problems to our economy falling apart, now things are taking a better course so that people can begin to consume.

  11. 11 mrrodenas May 8, 2009 at 4:09 PM

    This looks like good news to me as long as prices remain affordable and do not start inflating again. Demand is up so it is normal for the equilibrium price to slightly increase, given we have peaked with foreclosures keeping a more or less stable supply. I would like to witness that everyone who has some money and income (withing their means) is able to afford ownership in California. Wouldn’t that be nice? Prices were so ridiculous in most areas of this state, that this is a real chance for some. I would like measures to prevent home values to ever rise out of proportion and well above their “real” value, but I guess I would not be promoting a free, competitive market then, would I?

  12. 12 Lucas Tirelli May 9, 2009 at 9:15 AM

    It looks like the real estate market hit the bottom, and is now stabilizing. Now that consumers know that it has reached its bottom line, they will start to invest in real estate, because they know the price will not get any lower. As a result, there will be money velocity will start to increase. Real estate companies will also start to make money again, which will make those hire new workers, and let the economy grow back up.

  13. 13 Tanisha Econ101/Tues May 9, 2009 at 11:27 AM

    We are “seeing the light” in more than one area! I think it is great that California’s real estate market is moving in a positive direction. I will feel confident once those numbers are stable and then increase some more. But there is hope!

  14. 14 Matthew Dimech Econ-101 May 12, 2009 at 2:34 PM

    I think this is a great thing. The best thing about it being this maybe the starting block to show consumers that yes we are indeed heading out of the recession if the housing market stabalizes. For all of our sakes we hope it does.

  15. 15 Arnulfo Solorio May 12, 2009 at 7:04 PM

    Hi all,
    I am glad to hear that more and more people are feeling more positive about the economy. I sure believe that this is just like a wave. If it starts negative it will just continue being more negative. Now that there is positiveness in the people’s comments it will continue positive. If prices go up in the houses market it works for some people but not for all. It works for those whom have a house, property or more than one because the value of the property goes up, However for those who are looking to buy a house and the prices go up, it just makes it harder to buy one.

  16. 16 Jim Castilone May 14, 2009 at 2:28 PM

    I’m glad that real estate prices are beginning to rise if only a little bit. It is definitely a sign that the recession may have gone down as far as it can go and will give others confidence that it is on the rise. I also agree that this is good for some but not for others, but nothing can be perfect for everyone at the same time.

  17. 17 tmt2 May 14, 2009 at 11:19 PM

    Real estate developing is a good sign. Its what caused us to be here in the first place and hopefully real estate will go back up and people will start to feel more secure and the stock market will get influenced by this decision. Hopefully we just hit the bottom and we are working our way back up.

  18. 18 Kevin Clark st marys May 16, 2009 at 1:24 PM

    although i do think that this is very positive news, i feel as if we should wait and see multiple months in a row showing steady increase in our real estate market before we pop the champagne and start celebrating. Market cycles always tend to oscillate back and forth during the current trend that happens to be in progress at that point in time. This is to say yes its good we saw an increase no we to avoid seeing diminishing value in the value of real estate in the next few months and this will speak loudly towards the US recovery through this time of adversity, which in turn will trigger the global economy to steady simultaneously .

  19. 19 Jerry Ellison May 16, 2009 at 1:42 PM

    This is a good sign, obviously, for sellers, but not so much for buyers. Real estate in Seattle in the past couple years has been way down. A lot of family friends are real estate agents and they had a really hard time with it. On the other hand, the drop in real estate value was good for young people who were starting to buy their first house. I was actually kind of hoping that it would stay that way until i got out of college, but it looks like their starting to pull out of it now.

  20. 20 Walter Munill May 17, 2009 at 1:37 PM

    While there may be an increase it does not mean that the real estate industry is out of the woods yet. The bubble that popped was created over years and it doesn’t seem like it would be this year for real estate to regain its worth. It is a positive sign though. Many people may not take it for what its worth, but if they did they could be optimistic about the future, but not celebrating

  21. 21 Nikolas Bunton May 17, 2009 at 8:10 PM

    Finally, the real estate market is recovering! Seeing our state registering monthly gains in the market for real estate is a major improvement, especially since we haven’t seen this since the beginning of the year. The real estate market has always had that natural roller-coaster effect, yet it’s still a relief to see this major drop finally flatten out. Lets just hope it starts to ascend again, rather than continue to drop as it has been doing for the past few months.

  22. 22 Robert LaVoy May 17, 2009 at 11:05 PM

    Its good to see those numbers increase. Once the Real Estate bubble popped back in 2007, it has been down hill for many parts of our economy. I’m stoked because in the near future I’m going to be looking for a house. Once my house is bought and the numbers continue to rise, that means money in my pocket.

  23. 23 Leticia Martinez May 18, 2009 at 7:37 PM

    Its definitely good to see that the real estate market is bouncing back, especially since it was the market which can be accredited to the recession in the first place. The fact that people are starting to buy homes again shows that people are starting to be more confident in the economy. However, the housing market is still very shaky. How much a house is worth isn’t very certain. My brother has been looking to buy his first home yet he has little confidence in whether or not to buy a home because he has no real sense of how much a house is worth. One house could cost nearly $50,000 more than the house next door of the same model simply because that house has been foreclosed.

  24. 24 Santi Orona May 18, 2009 at 10:28 PM

    It is encouraging to see our housing market is improving. This is a sign that our economy may begin to improve as well. The median price rising is encouraging because it is able to give a good view of the true housing market.

  25. 25 quique May 26, 2009 at 10:25 PM

    I dont believe that the prices for homes have stabilized however i do believe that they are moving forward stability. right now its a good time to buy a home for those who had been saving up for one. my freind just but a home and he seems to be doing just fine.so stability is a good thing.

  26. 26 Luke Napier December 7, 2009 at 10:27 AM

    It’s great to hear that as a country we are working our way out of this regression. To see the real estate market recovering is a huge and relaxing thing to hear. With jobless rates lower than ever and more and more entering poverty, the recovery of the real estate market brings a bit of stability to the financial world. Especially in a state like California, where the real estate market affects a large community of people it is good to hear that sales are slowly returning to their old ways.

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