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Clovis Real Estate News

January 9th, 2010

Clovis Homes – Future Home Values

Now that 2009 is behind us, it’s time to look at 2010 and beyond for the value of Clovis homes.

The California Association of Realtors’ (CAR) has released its 2010 California Housing Market Forecast and projects the 2010 median home price in California will rise 3.3% to $280,000. In other words, if CAR is right, the median price of Clovis homes (which was $238,000 in 2009) will increase to $245,854. Why is CAR so optimistic?

According to CAR’s Vice President and Chief Economist Leslie Appleton-Young, unlike the rest of the nation, home sales in California already bottomed out, and the median home price hit bottom last year in February.
Over the last 40 years, CA homeowners who purchase and live in their home for at least 5 years, have averaged an annual rate of return of nearly 12%. That means a Clovis home purchased at today’s median price of $238,000 would be worth a whopping $739,191 in 10 years if CAR is right and the past repeats itself. Click here for a home appreciation calculator.

Have you been thinking about selling or buying a Clovis home? If so, click here to read the Top 5 reasons why 2010 is a great time to buy a Clovis home. If 2010 is the year you hope to sell or buy a Clovis home, let us know. Just fill out the form below and we’ll help you get started on reaching your home goals.

Clovis Real Estate − "The Clovis Home Experts"

This entry was posted on Saturday, January 9th, 2010 at 6:18 AM and is filed under Buyer Info, Current Home Values. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.