Calif. home price increases, sales will ebb in '06

AP Wire | 09/21/2005 | Realtor group: Calif. home price increases, sales will ebb in '06: " Record housing prices and a likely rise in mortgage interest rates will make it harder to afford a home in California next year, causing a slight decline in home sales and narrowing the rate of appreciation for many homeowners, real estate experts said Wednesday.
The median price of a home in California will rise 10 percent to $575,500 next year, while sales will fall about 2 percent over this year, according to the California Association of Realtors' 2006 Housing Market Forecast.
Homes in the more pricey real estate markets in the state could see appreciation squeezed even further, the group said."
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