Fresno Home Prices Still Struggling

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By KSEE News

Story Published: Nov 13, 2009 at 6:58 PM EST

Story Updated: Nov 13, 2009 at 7:12 PM EST

Despite declarations that the recession is over, the housing market is still struggling.
According to the Business Journal, the number of homes going into foreclosure in the Valley spiked last month, this after three months of decline.
But local experts say, don’t expect the housing market to be flooded with these foreclosures.
It seems banks are choosing to hold onto these homes instead of selling them at a loss.
In the Fresno area, the average price for a home is $165,000. That’s down from the same time last year, when the median price was $224,000.

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