HOME PRICES IN ORANGE COUNTY

Home prices in Orange County fell in March to 2004 levels – down almost 20% from a year ago. March was the 30th consecutive month where total sales failed to beat last years level and last month’s buying was 59% below average March sales since 1988. March typically marks the start of “spring fever” house buying but this year it only produced 13% more sales than February. In San Clemente prices are down 2.5% in 92672 and 11% in 92673 compared to last year and sales volume is off roughly 50% compared to last year.