Saturday, September 15, 2007

'The Dumb Money Has Left the Market'

Home sales and median prices dipped again in San Diego County.
By KELLY BENNETT Voice Staff Writer

Thursday, Sept. 13, 2007 Fewer homes sold last month in San Diego County than in any August in 15 years, DataQuick Information Systems reported Wednesday.

The 3,104 homes sold marked a 19.4 percent drop in sales volume from August 2006, and a 48 percent drop from the nearly 6,000 homes sold in August 2005.

Many of the deals that closed in August -- and that show up in data now -- began in July or early August, before the squeeze. Still, the same trouble that has plagued the region's home sellers and overleveraged homeowners for more than a year continued last month, with acute trouble in the south and east parts of the county.

http://www.voiceofsandiego.org/articles/2007/09/13/housing/915dqaug091307.txt

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