Peter Pays Paul

Inside commercial hard money lending.

20 Nov

Bay Area Home Prices Falling

Category: Life-in-General, Real Estate Investing

I think home prices are coming back to reality.

Despite an increasingly uncertain economy, thousands of homebuyers around San Francisco Bay kept snatching up foreclosed homes last month, dragging down the median home price by 41 percent from a year ago, a real estate tracking firm said Thursday.

The median home price in the nine-county region plunged to $375,000 in October, compared with $631,000 in the year-ago period, according to San Diego-based MDA DataQuick.

Last month’s median price was down 6.3 percent from September and nearly 44 percent from the peak median of $665,000 in the summer of 2007.

NorCal median home price plummets 41 percent – Yahoo Finance.

Tags: Bay Area, California, Real Estate Investing


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Posted Thursday, November 20th, 2008 at 1:09 pm
Filed Under Category: Life-in-General, Real Estate Investing
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