Expected price increase
: 4.3 percent Unemployment rate
: 14.4 percent (10th highest) Change in home prices (2010Q4-2011Q4)
: -10.0 percent
Home prices in the Madera-Chowchilla metropolitan area are projected to increase 4.3 percent from the fourth quarter of 2011 to the fourth quarter of 2012. The following year, prices are expected to increase another 16.5 percent — the highest rate in the U.S. However, these improvements come after the region experienced among the worst effects of the housing crash. From the time Madera’s home prices peaked in the third quarter of 2006 to the fourth quarter of 2011, they dropped 53.1 percent. This is one of the largest drops in the country.
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