Bloodbath in California housing market

20 Nov

These are some very scary numbers.  If you want into the market in Northern California you can now pick up property at almost half what it was going for a year ago.

Despite an increasingly uncertain economy, thousands of homebuyers around San Francisco Bay kept snatching up foreclosed homes last month, dragging down the median home price by 41 percent from a year ago, a real estate tracking firm said Thursday.

The median home price in the nine-county region plunged to $375,000 in October, compared with $631,000 in the year-ago period, according to San Diego-based MDA DataQuick.

Then again, you may want to hold off.

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