The global meltdown has had a deep impact on most industries the world over. The real estate and realty industry has not been spared either. The United States realty industry and real estate has borne the maximum brunt of the global recession. In the previous year there were millions of home foreclosures, steep price fall on home sales that was compounded by few home buyers. All of these caused the real estate industry to hit rock bottom.Â However, with government assistance the industry has been recovering slowly, and the real estate prices have shown signs of recovery.
Statistics show that the market trend in realty is improving in Riverside CA and the reports on Homes for sale in Riverside, CA reveal that Riverside, CA real estate salesâ€™ surge is not letting up. The figures on homes sales in Riverside CA for the month of September, 2009 show that although there are more sellers than buyers, the sale of homes has been twenty percent higher than the sales in the same time the previous year. Â The homes on sale usually spend a period of sixty to ninety days on an average in the market before they were sold.
The average price of homes for sale in Riverside CA is $ 150 per square foot which indicates an increase of 2.25 percent.
The median home sale price in Riverside CA from September 2009 to October 2009 was $ 300,000. The statistic reports indicate a positive change of twenty percent to twenty- five percent in the price of homes that were sold in Riverside CA from the previous year.