Posted on 08/15/2005 8:48:59 AM PDT by BurbankKarl
Orange County home prices didn't set another record last month. Nevertheless, the market's streak of consecutive year-over-year gains hit 98 months.
DataQuick reported today that July's median sales price was $601,000 – just below June's record of $603,000. It was the first month since February that a new price record wasn't set in Orange County.
(Excerpt) Read more at ocregister.com ...
Looks like I sold my just in time. ;-]
If they dip to say $300,000 that will be a reality dip and will be impressive.
(utoh is this the proverbial bubble bust LOL)
I thought I just read in the Sun Register that the average price sold over last week was $605k. I'll check it out tonight.
Precisely! A dip (perhaps I should say blip) of .003 or 0.3% isn't exactly a sign of bursting bubbles.
did you move?
not yet...
In the past 10 years any reduction in housing prices resulted in a longer term growth and increased amount.
The article however shows how little the Register gets what it reports. The current increased growth started in the 1st quarter of 2001 not eight years ago. I bought a house in 2000. in Orange County. The previous owner had the house from 1994 to 2000 (6 years). They receive 4% more then they paid for it from a normal 8% annual increase so, for the entire 90's the housing marking in Orange County was down.
I bought Aug of 2000 while still low and the housing marketing did not begin until 2001.
Yes, but if you bought a house two months ago, and are in an interest only loan, you would be worried.
Over the years I've seen any number of idiotic and foolish trends on FR become absolute manias, largely driven by a few devoted or misled folks who then become maniacal about whatever it is and become determined to drag down anybody they can with their own foolishness - Y2K is a good example, getting people to sell their stocks when the markets bottomed in 2002 was another ... now there's this real estate phenom & I'm again pondering what drives people to do all they can to get others to behave one way or another. I'm guessing a lot of this foolishness is outright jealousy on the part of those who live in undesirable parts of the nation, never saw any appreciation of their own or never bought a house when prices were low and are now paying the brunt of their own foolishness.
If a frog had wings it would fly.
ohh, hit a nerve eh?
I know SD has been down two months....oh well.
Doubt it, why so much negative-ism on FR.
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