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The State of California’s Housing Market

The State of Californias Housing MarketCalifornia is a huge state and there are various market currents flowing throughout its regions, but at the moment, there are some quite similar trends happening in both Northern and Southern California. Both sections of the state are largely being driven by an increase in demand coupled with a dearth of single family homes, resulting in strong increase in prices throughout the state.

From 2008 to 2011, housing construction was at the lowest level that it had been in years. In 2005, 209,000 permits were issued for new housing units, compared to a low of fewer than 50,000 in 2008. California’s housing market is characterized by its cycles, and this one is operating along the same lines as previous ones, even if it is more pronounced than others. Part of the reason that California’s market is so volatile is because it is typically in the vanguard of trends and change in the United States, which is reflected in the housing market.

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