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More Signs of a Housing Market Recovery

It keeps happening.  Little bits of news here and there, little glimmers of light, sparks of hope.  Daring to dream that maybe, just maybe, we are starting to see the economy turn around.  One area that we keep an especially keen eye on is the housing and home mortgage market.  Considering they are the primary culprit in getting us into the position we currently find ourselves in, it makes sense to cheer strongly for improvements in those markets.

In California, one of the hardest hit areas as far as real estate goes, has reported some recent good news.   The median price for an existing, single family home (not new construction) rose 1.4% in April from March, to just under $257,000.  That makes two months in a row of gains.  However, it is still down over 36% from one year ago.

While there is no guarantee that these improvements will continue, or even stick, it is nice to see some movement in the opposite direction for a change.