70% year over year decline

How low can prices go? Well I've said all along that most of the IE needed to fall about 50% to 65% from peak to get back to traditional values. It looks like some areas are proving me right. DataQuick has released the July Sales by zip code numbers and there are few zip codes already seeing declines of MORE than 50% and several are over 60%. And 92410 in San Bernardino is over 70%! (One Temecula zip was down 90% but it's just noise due to only 2 sales)

Ok, I will concede that most of those epic declines are in areas that are borderline ghetto. But some are in areas that are not that bad.

Here's the top 10 list (note I did not include areas with less than 10 sales).

1)
San Berdu, 92410 down 70.20% Now if you are ready for a shock, that means the median price in this zip fell from $310K last July to $92K this July. And there were 39 sales, so it's not due to a very small data set.

2)
San Berdu, 92411 Down 68.10% (22 sales)

3)
Riverside, 92501 Down 60.90% (18 sales)

4)
San Berdu, 92405 Down 56% (41 sales)

5)
San Berdu, 92404 Down 52.3% (73 sales)

6)
Rialto, 92376 Down 51.4% ( 89 sales!)

7)
Moreno Valley, 92553 Down 51.3% (114 sales!)

8)
Perris, 92571 Down 49.6% (132 sales!)

9)
Perris, 92570 Down 48.8% (34 sales)

10)
Desert Hot Springs, 92240 Down 48.2% ( 71 sales)

RIVERSIDE		SFR	Price	% chg	$/Sq Ft
Countywide		3,251	$250	-37.00%	$123
Aguanga	92536	2	$325	-9.70%	$136
Banning	92220	32	$190	-32.10%	$128
Beaumont	92223	70	$240	-26.20%	$116
Blythe	92225	11	$173	-6.30%	$137
Cabazon	92230	6	$125	-46.20%	$77
Calimesa	92320	3	$202	-31.60%	$226
Canyon Lake	92587	31	$260	-44.00%	$145
Cathedral City	92234	63	$220	-36.70%	$130
Coachella	92236	36	$184	-38.50%	$104
Corona	92879	53	$305	-28.40%	$169
Corona	92880	102	$390	-27.80%	$132
Corona	92881	59	$358	-39.30%	$166
Corona	92882	101	$341	-31.70%	$164
Corona	92883	92	$340	-37.00%	$150
Dsrt Hot Springs	92240	71	$128	-48.20%	$86
Dsrt Hot Springs	92241	6	$170	-18.30%	$96
Hemet	92543	29	$123	-41.00%	$101
Hemet	92544	64	$168	-42.10%	$105
Hemet	92545	55	$210	-28.50%	$92
Idyllwild	92549	14	$324	-12.10%	$223
Indio	92201	68	$213	-40.80%	$127
Indio	92203	39	$256	-29.90%	$114
La Quinta	92253	94	$347	-37.10%	$176
Lake Elsinore	92530	96	$210	-38.20%	$118
Lake Elsinore	92532	44	$262	-42.80%	$103
Mecca	92254	1	$77	-55.00%	$45
Menifee	92584	111	$250	-29.10%	$111
Mira Loma	91752	26	$360	-27.90%	$131
Moreno Valley	92551	69	$178	-43.10%	$111
Moreno Valley	92553	114	$162	-51.30%	$103
Moreno Valley	92555	85	$245	-45.60%	$100
Moreno Valley	92557	113	$201	-40.00%	$113
Mountain Center	92561	1	$200	-72.40%	$397
Murrieta	92562	129	$301	-35.60%	$114
Murrieta	92563	157	$280	-36.40%	$104
Norco	92860	28	$490	-20.00%	$172
Nuevo	92567	6	$268	-13.40%	$136
Palm Desert	92211	30	$344	-27.70%	$188
Palm Desert	92260	30	$397	-30.70%	$205
Palm Springs	92262	38	$435	-2.40%	$233
Palm Springs	92264	22	$535	-8.90%	$250
Perris	92570	34	$213	-48.80%	$101
Perris	92571	132	$175	-49.60%	$97
Rancho Mirage	92270	28	$627	-27.20%	$206
Riverside	92501	18	$215	-60.90%	$148
Riverside	92503	110	$250	-41.30%	$151
Riverside	92504	48	$212	-41.10%	$152
Riverside	92505	36	$237	-40.40%	$150
Riverside	92506	48	$293	-28.70%	$181
Riverside	92507	24	$278	-28.80%	$157
Riverside	92508	57	$340	-29.90%	$136
Riverside	92509	61	$249	-33.50%	$148
San Jacinto	92582	22	$210	-38.60%	$90
San Jacinto	92583	70	$174	-38.90%	$92
Sun City	92585	30	$215	-14.70%	$111
Sun City	92586	38	$169	-17.70%	$117
Temecula	92590	2	$105	-90.50%	$93
Temecula	92591	54	$300	-31.80%	$141
Temecula	92592	127	$330	-25.50%	$134
Thousand Palms	92276	4	$154	-8.10%	$105
Wildomar	92595	45	$275	-29.70%	$116
Winchester	92596	54	$280	-26.30%	$103