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Is It Time To Buy Real Estate?
According
to Dataquick's newest report for California 2009 May Home Sales:
"The
median price paid for a home last month was $230,000, up 4.1 percent
from $221,000 in April, and down 32.2 percent from $339,000 for
May a year ago."
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California
Median
Home Price
|
| May
2008 |
$
339,000
|
| April
2009 |
$
221,000
|
| May
2009 |
$
230,000
|
Buyers
often ask me whether the market price will continue to drop and
want to find out if this is the right time to purchase real estate.
Savvy
investor knows the best time to make a purchase is when the market
hits the bottom and is on the process of rebounding.
So
if we are down 32.2% from last year and up 4.1% from last month,
this may be the good indicator to assist buyers in making their
purchase decision.
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