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Afternoon Mortgage Meltdown: Higher Sales, Lower Prices

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Deals deals deals. Foreclosed homes are moving quickly on the market due to their bargain prices and buyers' inability to get jumbo loans -- so quickly, infact, that they pushed up the Bay Area's sales rate by the highest amount in six years last month. But in other numbers, those sales look much smaller: the median price for an area home dropped 36 percent from last September's price. Ouch. [SF Gate]