Industry Insights Uncategorized

March CAR Trends Report: Timing Market Prices

April 26, 2011

The March 2011 CAR Trends Report has been posted to the Research Data section on the Marketing page of SAVI.
In it, CAR shows that closed sales of existing, single-family detached homes in California dipped in February, down 9% from January and 4% from February 2010. This weaker than expected performance came on the heels of three consecutive months of gains.
Additionally, the California statewide median price was $271,320, down 2.8% from January and 2.5% from February 2010.
In 2011, the market must move forward on its own as economic conditions improve. Whether the median price will show a seasonal bounce in the coming months remains to be seen.
To access the full report, click here.

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