This is a very telling article I ran across today. MercuryNews.com out of Silicon Valley featured this article today – Southern California home sales jump 65% in September.
What struck me as the most telling statistic from this story is the fact that the median home price in the six county region dropped 33.2% from $462,000 to $308,000.
The Southern California region they are referring to include Riverside, San Bernadino and San Diego counties which were some of the hardest his areas of mortgage fraud and ultimately is also among the nationwide leaders in foreclosures and short sales.
This is another testament of the fact that this is an incredible buyer’s market for those that qualify for home loan financing.
For a more information about the Affordability Index and Median Home Prices in California, join us for one of our informative web classes. All of the classes currently scheduled discuss the CalSTRS 80/17 home purchase program in detail as well as reviewing Median Home Prices and the Affordability Index.