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O.C.[Orange County, CA) Home Slump Equals $411-a-day Loss off June ‘07 Peak

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DataQuick’s final O.C. report on June homebuying seems to show renewed skittishness among O.C. shoppers. Look back on the past year, you can see why.

Buyers antsy Buyers pay more

As the charts above show (click on them for bigger versions,) local real estate’s slide from last June’s pricing peak has been ugly. The median selling price fell $150,000 to $495,000 in a year. That equates to the typical home depreciating at the rate of $411 a day, $17 an hour .. or a penny every two seconds.

Highlights from June’s report …

  • Homebuying dropped, May to June, for the first monthly drop in count of closed deals of 2008. Read more HERE!
  • Median selling price rose, though, for the first monthly gain since November. Read more HERE!
  • O.C. foreclosures remain high. Read more HERE!
  • Around SoCal, Inland Empire gets boost from bargain hunters eyeing foreclosures. Read more HERE!
  • Click HERE to see how your ZIP code’s housing fared in June.

Worth noting, though …

  • Re/Max stats of pending deals, while slowing, suggest boost in closed deals ahead. Read more HERE!
  • Economists think housing pushes O.C. economy near recession. Read more HERE!
  • What do you think?

    lansner.freedomblogging.com/2008/07/16/oc-home-slump-equals-411-a-day-loss-off-peak/

  • Poll: Do you think foreclosures offer the best housing bargains? Vote HERE!
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