(KMJ) – State Home Prices Heading Back to Pre-Recession Levels
Prices of existing homes are a major Indicator of the economy…
According to the California State Board of Equalization median home prices averaged $473,995, 85% of their 2006 pre-recession peak value of $560,641.
The increase in property values is welcome news for homeowners hit hard by the Great Recession, but some at the Board of Equalization say as the economy continues to recover, if California wants to see more homeowners, the state is going to need more homes.
San Francisco currently has the highest median price, well over a million dollars.
Six of the top 10 counties are in the San Francisco Bay Area.
