Survey of California Home Buyers Survey (2009)

After back-to-back years of sharp declines in sales, the California housing market bounced back in 2008 with a 27 percent increase in sales. This report describes the changes among consumers in the real estate market, driven in part by the increase of distressed sales flooding the market and the drop of prices since early 2008.

This is the 10th annual CALIFORNIA ASSOCITION OF REALTORS® (C.A.R.) buyer survey that details how home buyers have changed their behaviors in recent years to adapt to the new housing market environment and to the increased use of the Internet in the real estate business.

Key Findings of this survey include:

• Distressed sales made up more than half of sales in California.
• 49% of all buyers bought a home through a regular market sale.
• Home buyers are optimistic about the future direction of home prices in their neighborhood.
• Home buyers are continuing to experience considerable difficulty in obtaining financing for the home they bought.

(Please Note - This report contains data collected from buyers who purchased homes in the second half of 2008. The data was complied in February 2009.)

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Table of Contents
Executive Summary