Bakersfield Real Estate poised for record appreciation

Bakersfield finds itself in a very interesting situation. As one of the areas of the United States that faced the greatest challenges during the housing recession, they are now poised to experienced the third highest growth in property values according to economists.

In a statement released today by economist Stan Humpries of Zillow , “The housing market has finally turned a corner. In Q2, we saw continued momentum in the housing recovery, despite of some economic turmoil, like flagging job growth numbers and sovereign debt issues in Europe. Nationally we hit a bottom in the first quarter of the year, and the Zillow 首页 Value Forecast shows that 67 of the 156 markets it covers will experience an increase in 首页 values over the next 12 months. Nationally, Zillow forecasts 首页 values will rise 1.1 percent.”

According to Humphries, Bakersfield California is only slightly behind Miami-Ft. Lauderdale and a few points behind Phoenix, AZ for forecasted 首页 appreciation. “This is great news for homeowners in Bakersfield,” says Jack Hardy, CEO of Century 21 Hometown Real Estate. “The families in Bakersfield and elsewhere throughout the central valley of California needed some relief, and we are blessed to see this shimmer of recovery,” says Hardy.

Century 21 Hometown Realty 代理人 in Bakersfield commented that inventory is low, and they are desperately seeking 首页 卖家 to meet the company’s strong buyer demand. Many 首页 prices for active listings are moving upward as they stay on the market longer.

Here are forecasts, courtesy of Zillow.