Median home prices up in first quarter

[moostraks]

http://www.latimes.com/business/la-f...,7438762.story

Wonder how much they are pimping this story?
Google gives 846 hits when in quotes...

Food for thought. The story is pretty amusing considering they reference two areas very close to me and we have friends who were just denied a re-fi because their home lost roughly 20% of its value. Hardee har har..gotta love AP news!

Anyone else have their home worth double digits more as is claimed in some 29 cities???

[Zippyjuan]

The article lists double digit improvements in 29 cities in the survey (out of 152 or 19%) so sure, chances are you are not in one of those cities. San Diego is one of the strongest housing markets right now- I believe we are one of the double digit growth cities. But you should also keep in mind that there were a lot of tax incentives for buying homes in the first quarter and those are set to expire soon so people who were thinking about buying a place may have accelerated their plans to take advantage of the breaks ($8000 on a first time buy or something like $6000 if you are purchasing a replacement home). This helped push demand a bit higher than it might have been otherwise. We will probably see smaller numbers for the second quarter of this year as the benfits run out. But I do think that in most areas housing has probably gone as low as it is going to for now. Yes, there will be exceptions (both on the high growth and the still falling ends).