California Housing Markets will be the Last to Recover

 |  from Building Team Forecast Top Headlines

Reed Construction Data chief economist Jim Haughey says homes are still the least affordable in California. Together with the huge surplus of homes for sale, a sustained pickup in housing market will come much later than in the rest of the country. The recent stabilization of home sales in California was due to bargain hunters investing in foreclosed or about to be foreclosed homes and will disappear when bargains are no longer available.