Industry NewsMarkets & Economy

Signs that California real estate is making a comeback

Several data point to early stages of seller's market

A host of factors could send the real estate market back into a tailspin. Will "Taxmageddon" send us back into recession? Will Freddie Mac, Fannie Mae and FHA continue to exist? Will the mortgage interest deduction and low down payments disappear? Will the euro fail? Will unemployment and weak manufacturing data in the U.S. and China continue to be the norm? At the recent AFIRE (Awesome Females in Real Estate) conference, Sara Sutachan, the chief research analyst for the California Association of Realtors (CAR), shared the association's latest research regarding the trends taking place in that bellwether state. While many aspects of the economic news still remain negative, there are an increasing number of signs that we may be witnessing the beginning of a housing recovery: 1. Signs the California market is coming back to life In 2000, California logged $129 billion in sales. The market peaked in 2005 with $327 billion in sales volume. Predicted sales volume fo...