Median home prices in 2011 decline from 2010

Actually, The prices definitely seem to have declined atleast 7-10% for sure in the last year in Irvine. This includes
my own home (based on refi appraisal, as there are no idential sale yet) in WBE from 2010 collection and certain listings i see in oak creek in the tracts that i was interested in the past.

irvinehomeowner said:
But I thought 2009 was the bottom?  ;)
 
waitin4ever said:
Actually, The prices definitely seem to have declined atleast 7-10% for sure in the last year in Irvine. This includes
my own home (based on refi appraisal, as there are no idential sale yet) in WBE from 2010 collection and certain listings i see in oak creek in the tracts that i was interested in the past.

irvinehomeowner said:
But I thought 2009 was the bottom?  ;)

2012 is going to look ugly for those North of the 405 Irvine communities. I think IHO may actually pull the trigger later this year.
 
irvinehomeowner said:
But I thought 2009 was the bottom?  ;)

Prices increased significantly in 2010 due to tax credits and the like.  The YoY decline in 2011 put things back in the 2009 price range, although I don't think the absolute bottom has been breached on a countywide basis.
http://www.standardandpoors.com/ind...ices/en/us/?indexId=spusa-cashpidff--p-us----
Case/Schiller (seasonally unadjusted) for LA/OC:

May 2009 - 159.18
Nov 2011 - 163.92

This suggests prices are still about 3% higher than the 2009 bottom.
 
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