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Marin Median Price / Marin Resident Unemployment Update
The latest reports suggests that unemployment in Los Angeles is still on the rise and is being projected to hit more than thirteen percent, in the first part of 2010. By the second
quarter of 2010, Los Angeles will have shed more than three hundred thousand jobs since 2006, when unemployment was just over four percent. As of now, their current rate of
unemployment is hovering around 11.5 percent.
Orange County is slightly behind at just over nine percent, while here in Marin County, we are seeing an unemployment rate of eight percent. Marin has the lowest unemployment numbers in the state of California, however, we still have more than ten thousand Marin residents out of work.
Although the median price for a home in Marin has been on the rise, the latest report shows that Los Angeles home prices are expected to continue to decline through 2010. Recently, I posted an article showing that median price for a home in the Marin real estate market has jumped to $800,000, while the median price in Los Angeles County is being projected to fall to under $235,000, down more than $350,000 from its 2006 price. On the upside, prices in Los Angeles are expected to begin to rise in the first quarter of 2011, while unemployment rates are expected to decline around mid-2010.
Marin Real Estate Blog
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