Slow Growth

Written by jordan on . Posted in Blog

Southern California is still hurting from the credit crunch, and DataQuick has produced some stats that do not show promise for the market. There are spikes in the market between months, but overall the median prices have fallen dramatically over the past year. Yet foreclosures are at an all-time high.

“Indicators of market distress continue to move in different directions. Foreclosure activity is at record levels, financing with adjustable-rate mortgages is at a six-year low. Down payment sizes and flipping rates are stable, non-owner occupied buying activity is increasing, DataQuick reported. “

All Homes #Sold Feb-07 #Sold Feb-08 Pct. Chng $Median Feb-07 $Median Feb-08 Pct. Chng
Los Angeles 6,300 3,468 -45.0% $528,000 $460,000 -12.90%
Orange 2,449 1,471 -39.9% $620,000 $520,000 -16.10%
Riverside 3,057 2,147 -29.8% $410,000 $325,000 -20.70%
San Bernardino 2,274 1,242 -45.4% $368,750 $290,000 -21.40%
San Diego 2,863 1,954 -31.7% $480,000 $415,000 -13.50%
Ventura 737 495 -32.8% $584,000 $445,000 -23.80%
SoCal 17,680 10,777 -39.0% $495,000 $408,000 -17.60%
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