Foreclosures are now making up less than 50% (45.3% to be exact) of the retail housing market resales in Southern California in June, 2009. This is down from 49.7% in may, and the peak of 56.7% in Feburary, this according to data released by MDA DataQuick as reported in an article on www.nuwireinvestor.com .
According to the article, there were a total of 23,262 total new and existing homes and condo sales completed in San Diego, Orange, Los Angeles, Ventura, Riverside and San Bernardino counties in June, 2009, which is up 12% from May. According to MDA DataQuick, many buyers believe that prices have hit rock bottom, as evidenced by the increase in activity...
Do you agree that prices have hit rock bottom?? Why or why not??
The full text of the article from www.nuwireinvestor.com can be found HERE
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