The “Looking Glass” ponders economic and real estate trends through two distinct lenses: the optimist’s “glass half-full” and the pessimist’s “glass half-empty.”
Buzz: California home prices are now 18% off their all-time high, but sales activity has risen in three consecutive months.
Source: My trusty spreadsheet reviewed the California Association of Realtors’ February home sales report for existing, single-family homes.
Debate: Is California’s housing market recovering from its bubble bursting?
Glass half-full
Californians bought 284,010 homes in February, up 17.6% vs. January. It was the third monthly gain in sales.
But, there are some caveats:
Sales are off 33% in a year, the 20th-consecutive year-over-year sales decline. And it