Home sales plunged nearly 50% from September 2006 to September 2007, and 30% from August to September 2007. The brakes have been put on the market, as we have been noting in the subdivision land market. This was the lowest level of sales in more than 20 years according to Dataquick, a real estate tracking service and the lowest since Dataquick began tracking in 1988.
The median price dropped 7.6% from August to September 2007 and more than 4% from September 2006. On the bright side, Los Angeles County showed a median price increase of 1.2%, while Orange County was down 9.5%, Riverside County was down 10.8%, and San Bernardino was down 11%, San Diego was down 3.1%, and Ventura County was down 7.9%.
Wednesday, October 17, 2007
Santa Clarita Affordable Housing Needs
The Santa Clarita City Council is addressing its affordable housing needs. The city has concluded that there are 598 units of affordable family housing, 944 units of senior rental units and 2,040 mobile home spaces in 16 parks throughout the city of Santa Clarita. Affordable housing is housing with rental rates at 80% of the median income. Seniors are reported to be 9.7% of Santa Clarita's population with 38% of the affordable units for seniors. Seniors are particularly concerned about the lack of Section 8 housing available and rental increases, given the lack of supply of affordable rental units.
Friday, October 12, 2007
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3rd Quarter Foreclosure Statistics
Palmdale and Lancaster lead LA County with 378 trustee sales in Palmdale and 349 trustee sales in Lancaster (data courtesy of www.propertyshark.com). Six of the top 10 zip codes in LA County were in the Antelope Valley.
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