Daniel Taub | Bloomberg | Jan 19, 2009
Southern California Foreclosures Push Sales Higher
Southern California home sales rose 51 percent in December as a surge in foreclosures pushed prices of single-family houses and condominiums down from a year earlier, MDA DataQuick said.
The median home price in the region fell 35 percent [which lured deep-pocketed fools into the market of no return]
Foreclosed homes accounted for 56 percent of Southern California’s December sales [...]
Such transactions made up almost 70 percent of sales in Riverside County, where the median price plummeted 41 percent [...]