A GREAT ARTICLE FROM DQNEWS.COM. Southland home sales ease but still beat '07; median falls below $300K December 16, 2008 La Jolla, CA---Southern California home sales outpaced last year for the fifth consecutive month in November, when 55 percent of buyers in the resale market chose repossessed homes. The abundance of discounted foreclosures helped push the median sale price down a record 35 percent from a year ago, a real estate information service reported. A total of 16,720 new and resale houses and condos closed escrow in the six-county Southland last month. That was down 22.3 percent from 21,532 in October but up 26.9 percent from 13,173 in November 2007, according to San Diego-based MDA DataQuick. On the surface, last month's sales look much weaker than in the prior two months: ...
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