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Forelcosures Drop As Home Prices Jump

The number of distressed properties dropped dramatically over the past five years while homes values rose significantly.
The number of distressed properties dropped dramatically over the past five years while homes values rose significantly.
The number of distressed properties dropped dramatically over the past five years while homes values rose significantly.

According to the CALIFORNIA ASSOCIATION OF REALTORS®, "In January 2009, 69.5 percent of all homes sold in California were distressed, which includes short sales and real estate-owned (REOs) properties. Five years later, that figure has shrunk to 15.6 percent."

During the same time period, California’s median home price jumped more than 64 percent from $249,960 in January 2009 to $410,990 in January 2014.

In Murrieta, the single family median home price rose 45 percent from $240,000 in January 2009 to $347,000 in January 2014. The median price of condos rose 41 percent from $128,000 to $180,000 during the same period.

Source: CALIFORNIA ASSOCIATION OF REALTORS®, March 10, 2014, available from "Distressed housing market shrinks dramatically in last 5 years"; Internet; Accessed April 7, 2014.

Bill Burchard, Broker, REALTOR®
3B Realty
BRE# 01864774
Bus: 951-347-3818
Email: Bill@My3BRealty.com



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