Median home prices up 4.6% YTD

Quote from tomdavis:

Depends on where you live.

Everyone's expecting a double dip in California. The UCLA forecast is for SoCal housing prices to hit bottom at the end of 2012.
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Is that the same "everyone" that in 2006 said real estate never goes down and they were paying 1 million dollars for a 1 bedroom fixer-upper in the worst part of Los Angeles?
 
There's no housing recovery. This article is strange in that it goes against lots of articles before it that continue to say prices are falling. There was a good new homes report today and this is the peak time through the summer for home purchases. A few states are not going to recovery for years, NV, CA (most), FL. Other states like TX and the South are doing quite well. So it really depends.
 
"Everyone" now believes the UCLA School of Econonomics because they forecast the Southern California housing crash two years before it happened. "Everyone" ignored them last time. Now "everyone" believes them.

Quote from peilthetraveler:

Is that the same "everyone" that in 2006 said real estate never goes down and they were paying 1 million dollars for a 1 bedroom fixer-upper in the worst part of Los Angeles?
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From the article:

"An oversupply of used houses and a relentless wave of foreclosed properties are curbing the market for new homes, even as builders are keeping lean inventories.

There were a record low 175,000 new homes available for sale last month, down 2.8 percent from the prior month."

If this record low is temporary so will the increase in prices.
 
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