Housing Sales off by Just As Much As You Feared

Here’s a Times headline I could’ve written in my sleep: “Southern California home sales drop to 20-year low:”

The 9,983 houses and condominium units sold in Los Angeles, Orange, Ventura, Riverside, San Bernardino and San Diego counties in January marked the first time that monthly home sales fell below 10,000 since DataQuick began compiling totals in 1988.

The number of homes sold was just slightly more than half the total sold in January 2007, DataQuick reported.

The biggest drop, both in quantity and median price, was in San Bernadino County, but L.A. didn’t fare much better. Given that, I’m not sure who they expect to be buying potential houses next to the Hollywood sign!