California Market Analysis

Existing Home Sales are up this month in the State of California from 287,600 last month to 301,040 this month. That is a 4.7% increase in sales. Good News for real estate for 2008! The Economic Stimulus Package passed earlier this month will raise conforming loan limits. The California Association of Realtors estimates this change will result in more than 300,000 additional home sales and strengthen home prices by 2-3%. With the current low interest mortgage rates, an unprecedented increase in the conforming loan limits, and buyers coming off the sidelines to buy, 2008 should prove to be the start of the housing rebound.

Check out Ventura County Real Estate at:

www.JanisCalkins.com