The median price in the top ten cities has changed dramatically in California. Is this a result of the housing market improving on its own? OR .......... are housing prices increasing due to the lack of inventory?
It is clear to me that the lack of inventory of homes listed influences sellers to increase the list price. The high unemployment rates in these cities tells me that the foreclosure and short sale inventory has been marginalized and not a factor, at this point in time. Then why are home owners not selling? Fear! If they don't have to sell ---- they are not selling. Period!
I have said it before and will say it again............................prices are going to skyrocket very quickly and interest rates will soon follow regardless of the monetary policy brokered within the DC beltway.
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