Bakersfield’s housing market is showing signs of instability after home values jumped a record 8.6 percent in May.
Affiliated Appraisers owner Gary Crabtree says the average home price fell in June.
“The market pulled back about $10,000 to $219,950, for a median decline of about four percent,” he said.
Crabtree said home prices are still 2.3 percent higher than they were last year. Homes are staying on the market for only about 19 days, down from 27 two months ago.
– Anthony Pollreisz