TIME TO EAT CROW: Now who all said something about a soft landing, no bubble-trouble, it's a good time to buy? Who said housing prices would stay up? The nice thing about numbers is they don't lie. Home sales and median prices are falling like a C-level acting career. The AP reports below. . .
SoCal home sales, median price plunge again in October
By ALEX VEIGA
AP Business Writer
LOS ANGELES — A real estate research firm says home sales in a six-county region of Southern California plunged last month to the lowest level for October in more than 20 years.
DataQuick Information Systems also says the median price declined from a year ago in Los Angeles, Ventura, Orange, Riverside, San Bernardino and San Diego counties.
Overall, 12,999 homes were sold in October, down 45.3 percent from 23,745 in the year-ago month. Sales increased 4.4 percent from September. It was the slowest October since DataQuick began keeping records
in 1988. The previous low came in October 1992, when 16,887 homes were sold.
The October sales average is 24,725 homes. The firm says the region’s median home price for the month fell to $444,000, down 3.9 percent from September and 8 percent from October 2006.
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