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Southern California Home Prices Rise 4% in December
Southern California home prices rose last month for the first year-over-year increase since 2007 as sales of foreclosed homes declined and more properties sold in pricier coastal markets.
The median price was $289,000 in December, up 4 percent from a year earlier and 1.4 percent from November, MDA DataQuick said. The rise from a year earlier was the first in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties since August 2007, the San Diego-based research company said today in a statement.
Foreclosures up 75% in 2007
As stated by MSN Money,
“More than 1% of all households slipped into foreclosure in 2007, as more borrowers failed to keep up on their mortgages. Nevada led the nation with the highest foreclosure rate, while California had the highest total number of foreclosures.”
Read the full story from MSN.com
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And the Award for “Largest Decrease in Home Values” goes to…
Here are the 10 top cities for decreasing property values (as compared to a year ago):
- Sacramento, CA (-18.5%)
- Las Vegas, Nev. (-17.2%)
- San Diego, Calif. (-17.1%)
- Tampa, Fla. (-11.7%)
- Los Angeles, Calif. (-10.7%)
- Miami, Fla. (-10.6%)
- Phoenix, Ariz. (-9.5%)
- Jacksonville, Fla. (-8.7%)
- Detroit, Mich. (-7.7%)
- Atlanta, GA (-7.1%)
Click here for the full slideshow from Forbes…
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If you are interested in contacting any of our Market Specialists for free counseling, email Customer Support or call at 1-800-881-1479