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Article: Bakersfield home prices up more than 30 percent in 2004.
- Article from:
- The Bakersfield Californian (Bakersfield, CA)
- Article date:
- March 2, 2005
CopyrightCOPYRIGHT 2005 The Bakersfield Californian. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennifer Plotnick
Mar. 2--Home prices in Bakersfield soared at a higher rate over the past year than any other place in the country -- except Las Vegas.
The average home price here increased 30.5 percent from the last quarter of 2003 to the last quarter of 2004, the Washington, D.C.-based Office of Federal Housing Enterprise Oversight reported Tuesday.
"The past year has been extraordinary," said Patrick Lawler, chief economist for the federal office. "Price increases have accelerated very rapidly in Bakersfield."
And over the past five years, Bakersfield's market appreciated 92.4 percent.
Bakersfield's average home ...