Planning to Buy Soon? Home Prices are Down, Sales Are Up

With the market so down, some are jumping into the ownership game. Via wire reports printed in the Daily Breeze: "A total of 4,590 homes sold in February, up from 3,468 for February 2008, while the median price of a home in Los Angeles County last month was $299,000, down from $460,000 in the same month a year ago, according to La Jolla-based MDA DataQuick. In Orange County, the median home price was $375,000, down 27.9 percent from the February 2008 median of $520,000, according to DataQuick. A total of 1,879 homes were sold in the county last month, up 27.7 percent from the 1,471 home sales in February 2008."