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Afternoon Mortgage Meltdown: SF Prices Tank Some More

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Catch 22: While more existing single-family homes sold in the Bay Area during August (up about 11 percent from last year) 36.1 were foreclosures. Those ultra-bargains in effect leveled the median home price to $450,000 (the same as May 2003) as compared to $655,000 a year ago. [SF Gate]