While California home prices are still far below the peak levels of 2006, some economists think California is on its way out of the woods. “Now we’re seeing the interior [of the state] has stabilized – because prices have fallen by 50% to 60% already,” says Stuart Gabriel, director of UCLA’s Ziman Center for Real Estate. The combination of cuts in price, reductions in mortgage rates and all sorts of state and federal programs to incentivize buying activity have brought stability. “Prices are increasing only modestly, but for all intents and purposes, they’ve stopped falling,” Gabriel says.
Posted via web from slcorp’s posterous
Like This Post? Get More Rancho Santa Fe News In Your Inbox!
Never miss important Rancho Santa Fe real estate news or changing market conditions!
Subscribe via RSS or email delivery!
is a service mark of The Prudential Insurance Company of America.