Real Estate Olympics: Cliff Diving Prices in California. Median Price Down 30 Percent Statewide.
The California Association or Realtors on Friday came out with another press release showing how dismal the market has gotten. Sales have fallen 24.5 percent from a year ago but the more shocking development is the price of a median home in the state is now off by 29 percent. This is shocking in itself but if we are to look at the peak price reached in April of 2007, we get a more stunning picture:
California Median Price
April 2007: $597,640
March 2008: $413,980
That translates to a stunning 30.73 percent drop in less than one year. Is it time for us to throw in the white towel and call the bottom? After all, we had so many folks telling us that the bottom would be reached once prices dropped 20 or […]
Original post by drhousingbubble
