Thursday, June 25, 2009

California Housing Price Turning Up?

At least the asking prices for the houses in the 75th percentile in major California cities are turning upward.

I found this handy site called "", that tracks the existing home median asking price and inventory. In their words,

"HousingTracker does not track home sale prices but rather home asking prices for select metropolitan areas. The asking (or list) price is the price that a seller is asking for their home, not necessarily the sale price they receive for their home. HousingTracker also keeps count of the housing inventory (i.e. the number of homes for sale) for the same metro areas. "

They also keep track of the asking prices of 50th percentile (median), 75th percentile (higher end of the market), and 25th percentile (lower end).

Most metropolitan areas tracked show either flat lines or still declining lines for all three. So I checked California cities (there are 6 of them tracked at the site), and here's the result:

All six cities show the 75th percentile asking price (orange line) turning up significantly, in some cases higher than June 2006 (San Diego) or just as high (San Francisco).

Of course the trick here is "asking price", and does not mean this is the price that's sold. But at least this may show the sellers' sentiment is turning bullish, asking for much higher price for their houses.


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