What is Making This Real Estate Cycle Different and Are We Going Back Down in Price? By – Bruce Norris
What a difference six months make! During the summer, California zoomed to a $600,000 median price. I had been surprised that prices moved that quickly and had passed the previous highs set in 2007. Over the past six months, prices have softened along with sales volume. What was once at $600,000 in mid-summer turned to…