No doubt about it, the Inland Empire will drop more than 10%.
I live in an area of new, larger homes in Murrieta, and none of the 8-10 homes with for sale signs up have sold in the past 6 months, and nearly all have “price reduced” signs. One home that I have kept an eye on started at $725k a month ago and is already down to $625k. Never mind that the first price was a speculator’s “let’s see if I can nail some fool” price…
Another house across the street was first listed at $535k and is now at $515.
When I dropped by the open house last weekend someone had written “Call me if you will take $400k” on the interest list.
