Movoto looked at California’s 10 largest cities (by population) to get a better idea of what caused the state’s turnaround from a buyer’s market to a seller’s market in the year from January 2012 to January 2013.
Here’s what Movoto found:
• The number of homes on market has stooped even lower.
• Affordable properties are harder to locate.
• Cash buyers are becoming even more common.
• Short sales are replacing foreclosures as the new popular buys on the block.
Each of these components contribute to a volatile Golden State housing market.
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