Home sales decrease in So Cal

Roger Showley of the Union-Tribune reported this week on the month-to-month decline in home sales from July to August in Southern California.  August of ’09 was still up by 11% over August of ’08. 

Right now inventory on the low end has thinned out, but as the article states, there is a LOT of distress in the pipeline.  FHA loans have (thankfully) replaced ARMs in the market place. Jumbo loans were 15.6 percent of home-purchase financing, up over six percent from their lows in January.  That’s GOOD news in the luxury market, but there’s still a lot of pain out there in the high end.

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One response to “Home sales decrease in So Cal

  1. We have a house for sale if you know of any buyers… $350K.