Current news...
http://www.dqnews.com/Articles/2009/News/California/Southern-CA/RRSCA090317.aspxFOR THE NON READERS.....
JAN 2006 JAN 2007
Los Angeles 7,309 6,805 -6.9% $490,000 $520,000 6.1%
Orange 2,868 2,400 -16.3% $600,000 $600,000 0.0%
Riverside 4,695 3,089 -34.2% $410,000 $415,000 1.2%
San Bernardino 3,321 2,373 -28.5% $355,000 $370,000 4.2%
San Diego 2,898 2,772 -4.3% $500,000 $472,000 -5.6%
Ventura 804 689 -14.3% $604,500 $565,000 -6.5%
So.California
21,895 18,128 -17.2% $462,000
$485,000 5.0%
Sales Volume Median Price
All homes Feb-08 Feb-09 %Chng Feb-08 Feb-09 %Chng
Los Angeles 3,468 4,590 32.4% $460,000 $299,000 -35.0%
Orange 1,471 1,879 27.7% $520,000 $375,000 -27.9%
Riverside 2,147 3,420 59.3% $325,000 $190,000 -41.5%
San Bernardino 1,242 2,324 87.1% $290,000 $153,000 -47.2%
San Diego 1,954 2,473 26.6% $415,000 $285,000 -31.3%
Ventura 495 545 10.1% $445,000 $327,000 -26.5%
SoCal
10,777 15,231 41.3% $408,000
$250,000 -38.7% T
The number of sales are up from a year ago, but down from 2 and 3 years ago. Median price fell from 505K at the peak to 250K... thats over 50% off, BAD
The February average is 18,120, last months sales was 15,231, NOT TOO BAD
56% of houses sold were foreclosure resales, BAD
CONCLUSION, it seems that the inland areas of Socal seem to be bottoming out, since the amount of sales have improved, but the coastal, higher priced areas are still not selling. Deterioration seems to be slowing down in the inland area, but prices may fall further, still too soon to tell. Low interest rates help keep prices of homes up, so when they do rise...... prices of homes will fall through the floor, so watch out and dont believe the hype. Stay tuned.....
