It says that June Gloom has hit the SoCal housing market. June Gloom is a term we have in “these here parts”…referring to the fact that there is a lot of cloud cover during the month of June. We also have a May Gray. So with that being said, plan your vacation around those months. Anyway…
The median price has dropped 29.3% from a year ago according to this story. Of the 17,000 + homes sold, over 41% were foreclosures. So let me not gloss over the fact that 17,000 + homes were sold. There is a lot of activity out there. Let me also remind the reader that median pricing is based on average sales pricing. Basically meaning lower priced inventory is selling. The writer finally mentions at the end of the story that June was the most productive selling month in the last 10 months.
Sounds like a good time to buy!