Hormiguero_IHB
New member
<a href="http://www.dqnews.com/Charts/Monthly-Charts/CA-City-Charts/ZIPCAR.aspx">a rough 2008 for the golden state </a>
Well, it isn't any big secret that CA housing got utterly crushed in price this year. I've never been a fan of folks who rubberneck nasty freeway wrecks - I usually give a honk to speed it along - but this one deserves a few extra moments in the right lane.
Irvine may well be the only big city in California to hold onto to higher-than-median prices with a decent amount of volume. Generally, nothing requiring a jumbo note seemed to move in the last few months, while places like Palmdale and Santa Maria poured on the volume at record levels, as vultures swept in to scoop up cheap housing. Will those vultures seem savvy a year from now? Will the folks who held on in places like Santa Barbara and Laguna Beach seem smart as well - or does the current trickle of volume suggest Wile E. Coyote pausing in mid-air before beginning his descent? It is easy to read too much into the numbers when towns of over fifty thousand register barely a dozen sales in a month.
<a href="http://en.wikipedia.org/wiki/List_of_United_States_cities_by_population">Here's the top muncipalities, with population (in thousands) listed</a>
LOS ANGELES 3834/584* $334,500 -39.18%
SAN DIEGO 1266/1,087 $307,000 -35.37%
SAN JOSE 940/764 $390,000 -37.60%
SAN FRANCISCO 799/301 $625,500 -14.72%
FRESNO 470/646 $155,000 -38.00%
LONG BEACH 466/249 $295,000 -28.22%
SACRAMENTO 460/1,390 $136,000 -45.60%
OAKLAND 401/296 $224,955 -52.14%
SANTA ANA 339/287 $260,000 -40.23%
ANAHEIM 333/225 $320,000 -28.89%
BAKERSFIELD 315/824 $160,000 -36.00%
RIVERSIDE 294/522 $215,000 -44.16%
STOCKTON 287/720 $129,250 -50.29%
CHULA VISTA 217/406 $316,500 -20.88%
MODESTO 204/484 $133,500 -49.62%
FREMONT 201/136 $437,500 -26.84%
IRVINE 201/160 $586,500 -11.14%
*LA regions (not included):
San Fernando Valley 955 $335,000 -30.21%
Downtown LA 186 $543,000 -23.52%
South LA 210 $205,750 -51.01%
South Bay 353 $510,000 -22.43%
Well, it isn't any big secret that CA housing got utterly crushed in price this year. I've never been a fan of folks who rubberneck nasty freeway wrecks - I usually give a honk to speed it along - but this one deserves a few extra moments in the right lane.
Irvine may well be the only big city in California to hold onto to higher-than-median prices with a decent amount of volume. Generally, nothing requiring a jumbo note seemed to move in the last few months, while places like Palmdale and Santa Maria poured on the volume at record levels, as vultures swept in to scoop up cheap housing. Will those vultures seem savvy a year from now? Will the folks who held on in places like Santa Barbara and Laguna Beach seem smart as well - or does the current trickle of volume suggest Wile E. Coyote pausing in mid-air before beginning his descent? It is easy to read too much into the numbers when towns of over fifty thousand register barely a dozen sales in a month.
<a href="http://en.wikipedia.org/wiki/List_of_United_States_cities_by_population">Here's the top muncipalities, with population (in thousands) listed</a>
LOS ANGELES 3834/584* $334,500 -39.18%
SAN DIEGO 1266/1,087 $307,000 -35.37%
SAN JOSE 940/764 $390,000 -37.60%
SAN FRANCISCO 799/301 $625,500 -14.72%
FRESNO 470/646 $155,000 -38.00%
LONG BEACH 466/249 $295,000 -28.22%
SACRAMENTO 460/1,390 $136,000 -45.60%
OAKLAND 401/296 $224,955 -52.14%
SANTA ANA 339/287 $260,000 -40.23%
ANAHEIM 333/225 $320,000 -28.89%
BAKERSFIELD 315/824 $160,000 -36.00%
RIVERSIDE 294/522 $215,000 -44.16%
STOCKTON 287/720 $129,250 -50.29%
CHULA VISTA 217/406 $316,500 -20.88%
MODESTO 204/484 $133,500 -49.62%
FREMONT 201/136 $437,500 -26.84%
IRVINE 201/160 $586,500 -11.14%
*LA regions (not included):
San Fernando Valley 955 $335,000 -30.21%
Downtown LA 186 $543,000 -23.52%
South LA 210 $205,750 -51.01%
South Bay 353 $510,000 -22.43%