Wednesday, August 22, 2007

DQNews July 2007 Results (Take 2)

Let's try this again. Year-over-year (yoy) change in median prices for the 4-county area (resale single family residences and condos as well as new homes):

  • El Dorado: -0.94%
  • Placer: -6.52%
  • Sacramento: -11.10%
  • Yolo: -5.37%
Sacramento County's median price has now declined 14 consecutive months on a year-over-year basis. The number of California counties with yoy declines has doubled since last July (from 11/32 to 22/32). Five counties registered double-digit drops.


Gwynster said...

I would just like to say...

DAVIS sales 41,
July 2007 $471,000, July 2006 $570,000, % Change -17.37%

A 99k drop in median price Year over year. Now that's what I call a good beginning >; )

David said...

DW and I have been looking around at houses for a few months and it seems like 2/3 of the houses that we've looked at the last few weeks have been shortsales (many not listed as such on MLS)or REO.

Our agent says that the banks can't mark down the price immediately because of some regulation and have to show that they "tried" to get how much they are owed. If that is true it may explain why the shortsales don't seem to work and the REO's keep getting listed at 2005 prices. Anybody know about this?

I just hope the remaining 20% drop that is coming gets itself over with so I can actually serously think of buying.