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608 New Renters

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Foreclosures were up 201 percent in April in the San Fernando Valley, or 608 families lost a home, according to the Daily News. All those foreclosures are driving down prices: the median home price is now $505,000, down $125,000 from a year earlier. On the upside, April saw an uptick in the median home price, but citing other economic factors, at least one analyst is too wary to call the slight bump as a sign of a recovery. This news follows other stories that look at how foreclosures are affecting the rest of the market. [Daily News]