Newspaper article from our research archive:

August home, condo sales nosedive.

Byline: Maria Zate

Sep. 28--August was a tough month for home sales in Santa Barbara County as problems in the mortgage industry took their toll. From the South Coast to the North County, sales fell almost 20 percent, but prices avoided a steep slide.

Lompoc Valley was hit hardest, with home sales plummeting by 22 percent last month compared to August last year. Yet the median price was down only about 6 percent to $417,000, the local Association of Realtors reported.

Sales of South Coast single-family homes also took a dive last month, falling by 21 percent, according to the California Economic Forecast, but the median price rose 6 percent to more than $1.26 ...

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