Thursday, October 15, 2009

Home sales up, prices slightly down

The latest from the SJ Mercury is that home sales were strong in September but that median prices edged down 2% month-over-month.

That doesn't surprise me since I've seen more investors at the low-end of the market out looking for bargains and paying cash. Inventory has been dropping especially in heavily depressed areas like East Palo Alto as investors step in to buy bargains. Here's the article with details.

http://www.mercurynews.com/top-stories/ci_13568975

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