Re: US Home Values Bottomed Out?
Read in the San Francisco paper today that 44% of May home sales in Contra Costa County and 26% ditto in Alameda County were foreclosures. These are the two "East Bay" counties with a total population of about 2.5 Mil. The article further stated that due to the large number of foreclosure sales it was driving the average sales prices down to about 25% of what it was at the peak; however, sales of non foreclosed homes were only about 5 - 7% lower than the peak. Historically, foreclosure sales are much lower than normal sales.
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