Visalia-Porterville Housing Report

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The Porterville housing market experienced slower growth in the fourth quarter, but still posted its still its fourth best year on record in real terms. However, declines in sales activity has increased the number of homes on the market and is finally forcing sellers to lower their expectations. Further sales and pricing declines should be expected, particularly if mortgage rates move higher due to unfavorable affordability.

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Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Visalia-P'ville Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$111,500	7.2%	$126,100	4.4%	15.7%	17.8%
2002	$119,200	6.9%	$131,400	4.2%	15.4%	17.5%
2003	$136,000	14.0%	$147,200	12.0%	17.0%	18.3%
2004	$174,600	28.4%	$184,600	25.4%	20.9%	19.6%
2005	$228,800	31.0%	$235,500	27.6%	28.0%	22.6%
2006	$245,000	7.1%	$245,000	4.0%	28.5%	21.7%

VISALIA-PORTERVILLE , CALIFORNIA - Q4:2006