Construction throughout the Central Valley is picking up and home sales are rising, fast. “We are starting to recover prices are coming back,” said Fresno State University Professor J. Andrews Hansz. He figures the average home has increased in value by 8 to 10 percent. Enough to get builders busy. “Things are improved from last year; closings from last year are up about 35 to 40 percent,” said Mike Prandini of the Building Industry Association. There are already signs of adjustment, for example, the median asking price of a home in Fresno shot up by $65 thousand between July of last year and today but has dropped about 2 percent in the past month. [Read this article]
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