First Choice Appraisals Blog

In perhaps a sign of upcoming stability, indicators of market distress continue to move in different directions. Data provided by DQNews indicates that foreclosure activity is at record levels, but that financing with adjustable-rate mortgages and with multiple mortgages has generally declined this year. The data pertaining to interest rates suggests that the market has adjusted to the market slump and that a stabilization will take effect sooner rather than later. Down payment sizes and flipping rates are stable, while non-owner occupied buying activity has edged higher. All these are indicators that perhaps the market is in the early stages of a stabilization.

All Home Sales	No Sold Nov-06	No Sold Nov-07	Percent Change	Median Nov-06	Median Nov-07	Percent Change
Los Angeles	8,274	4,468	-46.0%	$517,000	$499,000	-3.5%
Orange	2,867	1,567	-45.3%	$623,000	$582,750	-6.5%
Riverside	4,406	2,503	-43.2%	$427,000	$356,500	-16.5%
San Bernardino	3,309	1,719	-48.1%	$380,000	$330,000	-13.2%
San Diego	3,248	2,400	-26.1%	$487,000	$440,000	-9.7%
Ventura	901	516	-42.7%	$577,500	$521,250	-9.7%
SoCal	23,005	13,173	-42.7%	$485,000	$435,000	-10.3%

Source: DQNews.com

See a more complete home resale activity report including Sales Count, Price Median, and Median Average Price per Square Foot. Data is availabe for individual cities.

First Choice Appraisals