Correct me if I’m wrong but I calculate a 1.062% decrease in price for LA from July 2007 (260.84) to August (258.07).
For YOY (September 2006 to August 2007) a 5.973% decrease. Ratios of 273.94 and 258.07 respectively. 11 consecutive months of price drops since October ’06 for LA.
I’m noticing more and more foreclosures all the time. I hope and expect the rate of price drops to accelerate through the slow season and continue for several years, but I too wish it would happen faster. Though relatively, 5/9% decline YOY is pretty significant considering real estate prices “never go down.”