Concerns have arisen in recent months about the possibility of a double-dip in home prices. At present, this appears to be less likely for the California median price than the US median price. Here's why…

California Market

The CA median fell by nearly 60 percent from peak to trough, hitting bottom over two years ago in February 2009 at $245,230. Although the median fell in February of this year to $271,320, it stood at $293,570 in April, nearly 20 percent above the February 2009 trough. The February 2011 median was probably the low for this year, given the seasonal behavior of home prices and the likelihood that market fundamentals will improve somewhat as the general economy continues its slow recovery.

National market

By comparison, the US median price fell 32 percent from peak to trough--about half of the decline experienced by the California market—however, it only hit bottom this past February at $156,900. The national median rose to $163,200 in April, and should climb as the market moves through the peak season, but it remains precariously close to the February trough.Whether prices experience a double-dip depends greatly on the pace of recovery in the economy. GDP is rising, but must grow more quickly to bring down the unemployment rate. Recent increases in gasoline and food prices have caused an inflation scare that put a damper on consumer behavior since early this year. Gasoline prices will likely abate in the coming months, but it remains to be seen whether consumers will feel more confident about the future.Unfortunately the news networks love to sell bad news. Good news is supposed to be unbiased.More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! Want to know what your home is worth? Click here for a free market evaluation !If you have equity in your home, we will sell your home and get top dollar in this challenging market wiht our  Internet Marketing and Sales Program. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.comNew Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!