Just a quick update regarding our Santa Cruz market and what happened last week on sales of single family homes. There was a small decline in pendings and a decrease in the median price. Keep in mind, this is just a week over week comparison.
But doing a quick review of sales in June, although the month is not over, shows that there could be a significant decrease in the median price from May 2008 and could even be less than anything in over 5 years. Stay tuned……….I will report the actual findings by the first of next week.
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