RSS Feed
Print Story
E-mail Story
Home prices, sales volume continue to slide
| Monday, Feb 25 2008 5:39 PM
Last Updated: Monday, Feb 25 2008 5:36 PM
Bakersfield’s median price for an existing home declined by 5 percent last month to $227,000, which represents an 18 percent drop from January 2007, the California Association of Realtors reported Monday.
BAKERSFIELD.COM HOT TOPICS:
Loading Stories
Advertisement
Blogs:
The median price is the point at which half the homes sold for more and half sold for less.
Home sales volume was also down in Bakersfield over both periods — by 25 percent since December and 20 percent since the previous January, the group said.
Statewide the declines were steeper. Between January 2007 and January 2008, California’s median price for an existing home fell 22 percent to $430,370, while sales volume fell by 30 percent.
Association President William E. Brown blamed the declines on a shortage of money available for home loans.
Across the country, the median price for an existing home was $201,100 in January, down by 5 percent from a year before, the National Association of Realtors reported Monday. During the same period, it said, sales volume fell 23 percent.