California leading the housing rebound:
The number of homes sold in California rose 83 percent in February compared with last year, as the median existing home price dropped 41 percent, according to the California Association of Realtors.
In the Bay Area as a whole, prices were down 43.5 percent while sales were up 30.3 percent.
“Home sales in California continue to be considerably stronger than the nationwide sales figures,” said association president James Liptak, in a news release Wednesday. “The market will continue to register large, but diminishing year-to-year percentage gains in the coming months, as current sales are compared against the extremely low numbers that prevailed during the early months of the credit crunch.”
ARTICLE: BIZ JOURNAL
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