Another home sales report came out today with the following news “Sunbelt cities suffered the most, but most of the country is watching home values fall. In Phoenix prices have plunged 32.7% since October 2007, Las Vegas home values are down 31.7% year-over-year, while San Francisco prices fell 31%. Miami, Los Angeles and San Diego recorded year-over-year declines of 29%, 27.9% and 26.7%, respectively”. Read the entire article here.
I did some preliminary reports for 2008 yesterday for a newspaper reporter and I’ll be doing all my usual reports after the end of this month to show what has gone on in the SLO County real estate market in 2008. When you look at the numbers down to a city level, I think you’ll be a bit surprised on how our market did. You really can’t just look at the market from a county-wide perspective as we have so many different types of communities which the numbers will show.