
Last week I profiled a neighborhood in Irvine that inexplicably dropped about 20% in value since the tax credit expired. As it turns out, widespread price declines are beginning to show up in the aggregate statistics. The leg down we have been expecting this fall and winter is happening now. Clear Capital: Home price drop sudden and dramatic by KERRY CURRY -- Friday, October 22nd, 2010, 12:25 pm Clear Capital said a 6%, two-month decline in home prices represents a magnitude and speed not seen since March 2009. “Clear Capital’s latest data through Oct. 22 shows even more pronounced price declines than our most recent (Home Data Index) market report released two weeks ago,” said Alex Villacorta, senior statistician with…[READ MORE]