Here's the august numbers by city. Most of the year over year declines are still huge. Riverside had a rather shocking increase from July to August. I guess the city sold all the low end homes. Corona's median dropped a few thousand. Most of the other cities were about the same. It looks like most of the counties increase in median price can be attributed to the city of Riverside. It had 13% of the sales and it's median price went up 30% in one month! I think we can write that one off to statistical fluke (or error in the data, which seems likely given the huge increase). I looked up some numbers on a Realtors site and they are way less than DQ's numbers for Riverside. So something is up there.
| Riverside County | 4,074 | $190,000 | $247,000 | -23.08% |
| AGUANGA | 4 | $147,500 | $237,000 | -37.76% |
| ANZA | 3 | $107,500 | $91,000 | 18.13% |
| BANNING | 49 | $115,000 | $157,500 | -26.98% |
| BEAUMONT | 155 | $207,000 | $261,000 | -20.69% |
| BLYTHE | 9 | $180,000 | $185,000 | -2.70% |
| CABAZON | 3 | $92,500 | $157,000 | -41.08% |
| CALIMESA | 7 | $130,000 | $235,000 | -44.68% |
| CATHEDRAL CITY | 74 | $150,000 | $217,500 | -31.03% |
| COACHELLA | 47 | $147,000 | $220,000 | -33.18% |
| CORONA | 401 | $307,545 | $350,000 | -12.13% |
| DESERT HOT SPRINGS | 89 | $91,500 | $135,000 | -32.22% |
| HEMET | 209 | $118,000 | $174,000 | -32.18% |
| HOMELAND | 4 | $140,000 | $195,000 | -28.21% |
| IDYLLWILD | 7 | $140,000 | $307,500 | -54.47% |
| INDIAN WELLS | 8 | $421,000 | $675,000 | -37.63% |
| INDIO | 159 | $180,000 | $240,000 | -25.00% |
| LA QUINTA | 113 | $275,000 | $377,000 | -27.06% |
| LAKE ELSINORE | 183 | $175,000 | $220,000 | -20.45% |
| MECCA | 4 | $82,500 | $85,000 | -2.94% |
| MENIFEE | 108 | $195,000 | $255,000 | -23.53% |
| MIRA LOMA | 46 | $315,000 | $359,000 | -12.26% |
| MORENO VALLEY | 409 | $140,000 | $183,000 | -23.50% |
| MOUNTAIN CENTER | 3 | $110,000 | $199,000 | -44.72% |
| MURRIETA | 251 | $236,000 | $280,000 | -15.71% |
| NORCO | 34 | $307,000 | $445,000 | -31.01% |
| NUEVO | 14 | $155,250 | $215,000 | -27.79% |
| PALM DESERT | 111 | $255,000 | $335,000 | -23.88% |
| PALM SPRINGS | 199 | $133,000 | $277,000 | -51.99% |
| PERRIS | 179 | $140,000 | $185,000 | -24.32% |
| RANCHO MIRAGE | 47 | $460,000 | $465,000 | -1.08% |
| RIVERSIDE | 527 | $230,000 | $242,000 | -4.96% |
| SAN JACINTO | 119 | $138,000 | $185,000 | -25.41% |
| SUN CITY | 126 | $155,000 | $215,000 | -27.91% |
| TEMECULA | 234 | $261,000 | $325,000 | -19.69% |
| THERMAL | 3 | $147,500 | n/a | n/a |
| THOUSAND PALMS | 10 | $109,500 | $171,750 | -36.24% |
| WHITE WATER | 3 | $100,000 | $137,000 | -27.01% |
| WILDOMAR | 60 | $236,477 | $300,000 | -21.17% |
| WINCHESTER | 60 | $232,000 | $280,000 | -17.14% |
| San Bernardino County | 3,206 | $145,000 | $215,000 | -32.56% |
| ADELANTO | 123 | $82,500 | $126,000 | -34.52% |
| APPLE VALLEY | 155 | $106,000 | $157,000 | -32.48% |
| BARSTOW | 31 | $70,000 | $135,000 | -48.15% |
| BIG BEAR CITY | 36 | $138,000 | $207,500 | -33.49% |
| BIG BEAR LAKE | 32 | $325,000 | $324,000 | 0.31% |
| BLOOMINGTON | 44 | $146,000 | $195,000 | -25.13% |
| BLUE JAY | 2 | $157,500 | $312,500 | -49.60% |
| CEDAR GLEN | 2 | $74,500 | $125,000 | -40.40% |
| CEDARPINES PARK | 3 | $68,000 | $111,545 | -39.04% |
| CHINO | 84 | $311,750 | $348,000 | -10.42% |
| CHINO HILLS | 69 | $386,000 | $475,000 | -18.74% |
| COLTON | 67 | $115,000 | $151,250 | -23.97% |
| CREST PARK | 2 | $180,000 | $775,000 | -76.77% |
| CRESTLINE | 23 | $135,000 | $171,250 | -21.17% |
| FAWNSKIN | 3 | $212,000 | $232,500 | -8.82% |
| FONTANA | 413 | $195,000 | $260,000 | -25.00% |
| FOREST FALLS | 3 | $75,000 | $185,000 | -59.46% |
| GRAND TERRACE | 6 | $200,000 | $240,000 | -16.67% |
| GREEN VALLEY LAKE | 2 | $216,250 | $225,000 | -3.89% |
| HELENDALE | 27 | $130,000 | $202,250 | -35.72% |
| HESPERIA | 243 | $112,000 | $187,500 | -40.27% |
| HIGHLAND | 69 | $159,500 | $200,000 | -20.25% |
| JOSHUA TREE | 17 | $90,000 | $118,000 | -23.73% |
| LAKE ARROWHEAD | 33 | $265,000 | $353,500 | -25.04% |
| LANDERS | 4 | $48,500 | $172,000 | -71.80% |
| LOMA LINDA | 21 | $250,000 | $350,000 | -28.57% |
| LUCERNE VALLEY | 6 | $50,000 | $145,000 | -65.52% |
| LYTLE CREEK | 2 | $51,750 | $110,000 | -52.95% |
| MENTONE | 14 | $259,000 | $225,000 | 15.11% |
| MONTCLAIR | 33 | $210,000 | $264,000 | -20.45% |
| MORONGO VALLEY | 9 | $66,500 | $166,500 | -60.06% |
| ONTARIO | 142 | $183,500 | $260,000 | -29.42% |
| PHELAN | 30 | $161,000 | $208,000 | -22.60% |
| PINON HILLS | 8 | $158,250 | $199,000 | -20.48% |
| RANCHO CUCAMONGA | 212 | $279,500 | $380,000 | -26.45% |
| REDLANDS | 73 | $215,000 | $295,000 | -27.12% |
| RIALTO | 168 | $140,000 | $200,000 | -30.00% |
| RIMFOREST | 2 | $123,500 | $185,000 | -33.24% |
| RUNNING SPRINGS | 12 | $99,000 | $155,000 | -36.13% |
| SAN BERNARDINO | 371 | $80,000 | $133,000 | -39.85% |
| SUGARLOAF | 16 | $105,750 | $183,500 | -42.37% |
| TWENTYNINE PALMS | 19 | $95,000 | $110,500 | -14.03% |
| TWIN PEAKS | 6 | $109,000 | $79,000 | 37.97% |
| UPLAND | 66 | $387,500 | $417,500 | -7.19% |
| VICTORVILLE | 394 | $114,750 | $170,000 | -32.50% |
| WRIGHTWOOD | 6 | $180,000 | $225,000 | -20.00% |
| YUCAIPA | 50 | $220,750 | $285,000 | -22.54% |
| YUCCA VALLEY | 48 | $125,000 | $124,500 | 0.40% |
| San Diego County | 3,176 | $322,000 | $348,000 | -7.47% |
| ALPINE | 17 | $384,000 | $390,000 | -1.54% |
| BONITA | 12 | $390,000 | $487,500 | -20.00% |
| BONSALL | 4 | $260,000 | $222,500 | 16.85% |
| BORREGO SPRINGS | 6 | $223,750 | $106,000 | 111.08% |
| CAMPO | 8 | $120,000 | $202,500 | -40.74% |
| CARDIFF BY THE SEA | 8 | $540,750 | $699,000 | -22.64% |
| CARLSBAD | 144 | $570,000 | $669,000 | -14.80% |
| CHULA VISTA | 317 | $295,000 | $350,000 | -15.71% |
| CORONADO | 16 | $845,500 | $1,190,000 | -28.95% |
| DEL MAR | 15 | $1,100,000 | $875,000 | 25.71% |
| EL CAJON | 126 | $253,000 | $260,000 | -2.69% |
| ENCINITAS | 42 | $692,500 | $679,500 | 1.91% |
| ESCONDIDO | 203 | $275,000 | $300,000 | -8.33% |
| FALLBROOK | 54 | $370,000 | $393,000 | -5.85% |
| IMPERIAL BEACH | 18 | $237,500 | $265,000 | -10.38% |
| JAMUL | 5 | $650,000 | $460,000 | 41.30% |
| JULIAN | 7 | $215,500 | $349,000 | -38.25% |
| LA JOLLA | 73 | $825,000 | $825,000 | 0.00% |
| LA MESA | 62 | $313,500 | $360,000 | -12.92% |
| LAKESIDE | 37 | $295,000 | $312,500 | -5.60% |
| LEMON GROVE | 31 | $215,000 | $258,500 | -16.83% |
| NATIONAL CITY | 37 | $180,000 | $225,000 | -20.00% |
| OCEANSIDE | 227 | $310,000 | $307,250 | 0.90% |
| PAUMA VALLEY | 2 | $285,000 | n/a | n/a |
| PINE VALLEY | 3 | $314,000 | $307,000 | 2.28% |
| POWAY | 41 | $490,000 | $505,000 | -2.97% |
| RAMONA | 36 | $277,500 | $286,750 | -3.23% |
| RANCHO SANTA FE | 12 | $1,824,500 | $2,385,000 | -23.50% |
| SAN DIEGO | 1,208 | $340,000 | $360,000 | -5.56% |
| SAN MARCOS | 112 | $334,000 | $350,000 | -4.57% |
| SAN YSIDRO | 24 | $200,000 | $235,000 | -14.89% |
| SANTEE | 55 | $278,000 | $360,000 | -22.78% |
| SOLANA BEACH | 17 | $780,000 | $1,060,000 | -26.42% |
| SPRING VALLEY | 74 | $219,500 | $255,000 | -13.92% |
| VALLEY CENTER | 19 | $419,000 | $370,000 | 13.24% |
| VISTA | 100 | $292,500 | $305,500 | -4.26% |
5 comments:
I can tell you for a fact that homes at the lower end of the price spectrum in Riverside (<$200,000) have virtually disappeared. Almost every new listing that pops up on Redfin is a short sale. It is a VERY frustrating time to be buying in Riverside in that price range.
This is a great opportunity for cash-rich buyers who are the main beneficiaries of this financial crisis. They can take advantage of the weak dollar value and buy properties in busy cities and centrally located areas.
Read more.
http://www.housingnewslive.com/us-housing-news-articles.php
On inflation:
"Crucially, China and rising Asia have reached the point where they can no longer keep holding down their currencies to boost exports because this is causing mayhem to their own economies, stoking asset bubbles. Asia's "mercantilist mindset" of recent decades is about to be broken by the spectre of an inflation spiral.
The policy headache was already becoming clear in the final phase of the global credit boom but the financial crisis temporarily masked the effect. The pressures will return with a vengeance as these countries roar back to life, leaving the US and other laggards of the old world far behind.
A monetary policy of near zero rates – further juiced by quantitative easing – is completely incompatible with circumstances in most of Asia, the Middle East, Latin America, and Africa. Divorce is inevitable. The US is expected to hold rates near zero through 2010 to tackle its own crisis. "
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6211858/HSBC-bids-farewell-to-dollar-supremacy.html
Japan held rate near zero for a decade (longer actually they held it there until 2007) and I'm convinced we are following in their footsteps. I'm also not a believer in decoupling. Currencies can move but a collapse of one in our intertwined world economy will inevitably result in the collapse of many others. The US is still the largest national economy (the EU is larger but that's not a nation). Asia (China)is catching up but it has a ways to go yet. Even if the US falls to 2 or even 3 that is still a huge economy, far too big to risk decoupling the currency.
If the US stops buying Asian and European goods what would happen to those economies? They tank, that's what. Asia isn't going to find another market for all those goods they produce. Just look at how many factories in China have closed in the last year.
Large economies are like the large banks "too big to fail". Man I hate that phrase. We will have to wait and see what happens. But I for one, don't see hyper inflation in our future. I was inclined to think it was possible 2 years ago but now I don't see it. I'm convinced the Fed and government are going for a Japan style solution because it's the only one that lets the banks weather the storm. A quick fix bankrupts all of them.
Increasing price is not good at recession time.
Best Bank Rates
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