LA: How Low Can It Go?
Los Angeles-based California Association of Realtors is reporting that in September home sales tumbled more than 31% across California and in Los Angeles County where prices continued to weaken.
However, a report by DataQuick Information Systems has some more heartening news. In 227 out of 381 California cities, 59.6% showed an increase in their respective median home prices from a year ago.
Overall, moderate price declines and downward moving sales volume are expected. Many anlaysts believe that prices will remain flat, at least for the remainder of the year.