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CALIFORNIA

Home to nearly one out of eight Americans, the state of California has 38 million residents, making it the single most populated state in the USA. With entertainment and agricultural being the largest economic contributors, along with aerospace, education, and manufacturing. The state of California is one of the most diverse in the USA in terms of landscape, complete with desert, mountains, forests, and oceanside beach. The state spans across a massive 163,696 square miles and counts eight of the fifty most populated cities in the US within its borders.

General Market Conditions of California Real Estate

Single family home values in the state of California has steadily inched up since 2010, when prices fell steeply from the highs of 2009. In 2013, the average median price is $335,000, with approximately 533,000 homes selling in 2013, according to a projections report by the California Association of Realtors. The dollar volume of sales is also increasing, according to figures in the same study.

Geography

Situated on the Pacific Ocean on the west coast of the United States, California is bordered by Oregon to the north, Nevada to the east, and Mexico to the south. It is home to the Sierra Nevada mountain range, as well as Yosemite Park, and Death Valley. Inside the state are many rivers, lakes, and miles and miles of beachfront coastline which are only bested in mileage by Alaska and Florida.

Climate

The state has what's known as a “Mediterranean climate”, meaning summers are mostly dry, and the winters are cool and rainy. Along the coast, winters and summers are relatively mild, but further inland, those conditions change and winters are more cold, with summers being more warm. However, the state is known for its moderate climate, making it all the more attractive.

Demographics

California has the largest population in the United States, which means it is also one of the most diverse in its demographics. The US Census Bureau estimates that 74 percent of the state's residents are white, 38 percent Hispanic or Latino, nearly 17 percent Asian, 6.6 percent black, 1.7 percent being Native American, and 3.6 percent of its population are considered multiracial.

Main Attractions

Being such a large state, California is home to many destinations that attract visitors from all over the United States and from abroad. Redwood National Forest is one such destination, along with three large theme parks, SeaWorld, Disneyland, and Universal Studios, and it's many vineyards, as well as Hollywood and its many studios. Other big draws are Lake Tahoe, Desert Valley, and the Golden Gate Bridge. California has many natural wonders, which also make for heavily visited destinations; in combination with its popular cities of L.A., San Diego, and San Francisco, which attract millions of visitors each year.

Economy

The state of California has a gross domestic product of nearly $2 trillion, making it only slightly smaller than all but eight nation states which include China, Japan, Germany, France, Brazil, the United Kingdom, and Italy. The state owes its economy mostly to entertainment, agriculture, international trade, technology, and tourism.