The new MDA DataQuick numbers are out, and they show the trends of 2008 are still with us: strong sales, fewer dollars.
In Sacramento County, median prices fell to $185,000 in November. That's $10,000 below October and a whopping 36 percent below last year. But the volume of sales surged 61 percent, as 2,157 homes sold.
Prices are down in each of the eight counties surveyed by DataQuick. They've held up the best in Placer County, where the $328,250 median is actually slightly higher than October's level and "only" 15 percent below last year.
This all comes as mortgage rates plunge to historic lows, thanks to the generosity of the Federal Reserve. The Fed is overwhelming the system with money in an effort to revive the economy, as you may have heard. Freddie Mac says 30-year fixed rate mortgages are averaging 5.19 percent, but Sacramento area brokers can find loans below 5 percent.
We'll have a lot more on this in Friday's paper.
