“Fire sale” boosts SoCal home sales; Prices down 31% from ‘07 Posted on August 18th
Breaking: A “fire sale” of cheaper houses boosted home sales in most of Southern California in July, as median sales prices continued to tumble, falling 31% from year-ago levels across the region, MDA DataQuick reported Monday morning. Resales of foreclosed houses made up 43.6% of the region’s housing market in July, as cheaper houses financed by “lousy mortgages” during the housing bubble continued to dominate sales.
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