Friday, December 15, 2006

Real Estate Market Keeps Slipping

By Chris Thompson
Fri, Dec 15, 2006 at 3:25 PM

Houses in the Bay Area continued to lose value, and the number of sales dropped sharply in November, according to the real estate information service DataQuick Information Systems. In Contra Costa County, the median value of homes fell from $589,000 in November 2005 to $562,000, a drop of 4.6 percent. In Alameda County, median home values dropped from $587,000 to $581,000. The average monthly mortgage payment now hovers around $2,865, or twelve percent higher than it was at the peak of the previous boom in 1990.


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