Median home prices in Bakersfield are beginning to decline again, falling nearly six percent in January.
Affiliated Appraisers owner Gary Crabtree says prices are sharply lower compared to last year as well.
“The market has declined by $20,000, or 9.3 percent, with the current median price at $195,000,” he said.
Crabtree said homes are starting to sell quicker, as the market transitions out of its holiday off-peak season. But, he also says the housing market hasn’t begun to feel the effects of the declining oil industry.
– Anthony Pollreisz