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Saturday, November 22, 2008

California October Home Sales Up and Prices Down



DQNews.com has reported that the number of sales of new and existing homes in California during the month of October, 2008 was up from September, but the median price was down for the same period.

Home and condo sales of 42,293 were up " ...4.9 percent from 40,371 in September and up 63.7 percent from 25,832 for October last year."

As for prices, "The median price paid for a home last month was $278,000, down 1.8 percent from $283,000 for the month before, and down 34.4 percent from $424,000 for October a year ago. Around half the drop in median is due to depreciation, the other half due to shifts in the types of homes selling, and how those homes are financed."

DQNews is a good reference source, and it posts a monthly chart of home sale averages, listed by city.

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