Year of The Dragon, Good For Real Estate?Blog, Real Estate News, Real Estate Tips
– In 1976, the median price of a single-family U.S. home was up almost 8%, while in California, it jumped nearly 17%.
– Sales that year were up at least by 23% both statewide and nationally.
– In 1988, prices were up a more modest 4.3% nationally, while California’s price shot up 18%. It’s also the first year that the California Association of Realtors had figures for Orange County. How were prices locally that year? Up 25%!
– Sales likewise was booming on the state and local level in 1988, rising 10% statewide and up 8% in O.C.
– In 2000, prices were up on national, state and local levels, with California and O.C. home prices up 11% and nearly 13%, respectively.
– Sales that year were down in the U.S. and in California. But in Orange County, home sales increased 2.2%..
Will the Year of the Dragon be good for real estate? Let’s hear your comments.