Southern California Real Estate Goes Off the Cliff
October 17th, 2007Via: Los Angeles Times:
September proved to be the cruelest month yet for the sputtering Southern California housing market, as monthly home sales fell to their lowest point in nearly 20 years.
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Overall, September home sales in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties fell 48.5% from a year earlier, according to figures released today by the real estate information service DataQuick.
The total number of houses and condominium units sold — 12,455 — was the lowest since DataQuick began compiling sales statistics in 1988.
The median Southern California sales price of $462,000 was down 7.6% from August and down 4% from last September.
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