Bay Area Housing Weakens in October


Inquiring minds are looking at The LATimes’ in regards to the latest data showing that the San Francisco Bay Area housing numbers continue to weaken:

Sales of all condominiums and houses fell 3.3% from September and 22.8% from October 2009 to 6,122, according to San Diego real estate research firm MDA DataQuick.

It was the slowest sales pace for any October since 2007 and the second-slowest October since DataQuick began tracking sales in 1988.

The median Bay Area home price was $395,000 in October, a 3% decline from September and a 1.8% drop from October 2009.

And with the other problems of the state…namely, unfunded public pensions, high taxes, hi-tech companies leaving in droves, etc…the end is probably not in site. Just think, 58% of the nation’s Alt-A loans are in California and the predicted defaults are now just really hitting the market.

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