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  1. #1
    Join Date
    Jul 2003
    Location
    Kapiti in New Zealand
    Posts
    4,032

    Default California home sales up 83 percent, prices drop 41 percent

    California home sales in February were 83 percent ahead of the previous year, while the median existing home price dropped 41 percent in the past year, according to a report Wednesday from the California Association of Realtors.

    Locally, here are the figures on home sales:

    Los Angeles -- sales up 69.3 percent versus February 2008, down 9.4 percent from January

    Orange County -- sales up 44.6 percent versus Febraury 2008, up 10.5 percent from January

    Riverside/San Bernadino -- sales up 149.6 percent versus February 2008, down 9.2 percent from January

    Local median home prices were:

    Los Angeles -- $308,540, 35.5 percent less than February 2008, 1.2 percent higher than January

    Orange County -- $433,690, 28.9 percent less than February 2008, 2.5 percent higher than January

    Riverside/San Bernadino -- $174,400, 39.8 percent less than February 2007, 1 percent lower than January

    Read more...

    Cheers

    Marc
    Free business resources - www.BusinessBlogsHub.com

  2. #2
    Join Date
    Nov 2007
    Posts
    1,067

    Default

    Wow! Now THAT is interesting reading, from Realtors no less!

    Question is: Does this make a bottom? and are these now bargains based on yield?

    & probably more importantly from a local perspective.....do the current market conditions & the lag effect mean something similar happening here?

    We all know exnzpat thinks it will.


 

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