Home Prices to Rise in 2006

RISMedia - Residential Real Estate's Largest Independent News & Information Service - Immediate access to industry news,top real estate professionals,and the nation's most respected product and service firms real estate referral,real estate tr: "Appleton-Young used an image of a pink, sudsy housing bubble bath to clean up any questions about whether California's sky-high home market is due for a crash.
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The only bubble out there, �has been a bubble in articles about the housing bubble,� said Appleton-Young, chief economist for the California Association of Realtors.

California home prices will go up 10 percent in 2006, Appleton-Young predicted at the association�s convention in San Diego.

At that rate, the median price of a California single-family home will hit $575,000 next year, with appreciation rates and sales slightly below 2005 levels. "