Despite the 18.3% decline in home sales in Orange County and the 22% year to date decline in home prices in OC, Lake Forest, California (92630) home sales ventured into positive territory in May 2008 by growing 37% over May 2007.
The median home price for Lake Forest in May 2008 was still 19% down over May 2007 - down to $490,000. This includes all home types: condominiums, single family homes, etc.
Is this a just a temporary sales spike, or is this the beginning of the end of the great housing crash in Lake Forest?
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