Local home market resumes median-price slide | news

Bakersfield’s single-family home market resumed its downward adjustment in November, following an upward blip in October, as supply and demand both decreased significantly month over month.

The result was modest declines in local benchmarks: The city’s median sales price for an existing home dipped 2.6 percent from October’s level to settle at $370,000, while the corresponding measure for new construction slipped 4.1 percent to hit $434,100, according to a report by Bakersfield appraiser Gary Crabtree.

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