Southern California Home Sales Drop 21 Percent

cbs2.com ^ | Aug 17, 2010 9:52 am US/Pacific

[BenLurkin]

San Diego-based MDA DataQuick said Tuesday that the drop from about 24,100 homes in June 2009 to around 19,000 homes last month came as federal tax credits that had been fueling sales expired.

The firm says last month was the slowest July since 2007, when just under 18,000 homes sold.

Last month's sales were also down about 21 percent from around 23,900 in June.

[BenLurkin]

Unexpected?

[ClearCase_guy]

Looks like Recovery Summer is picking up steam. [/s]

[Retired Greyhound]

Prices are still way up there.

I live in Long Beach and still can’t afford to buy.

[FlingWingFlyer]

How’s that “Summer of Recovery” thing workin’ for ya?

[GonzoGOP]

Looks like Recovery Summer is picking up steam.

If by that you mean banks are going to have to try and "Recover" money lost to bad loans. And families are going to have to "Recover" from not having a job and having their home foreclosed then yes this is definitely a recovery summer. I just hope the people of America can recover their senses so that the GOP can recover control of the government in November.

[PA-RIVER]

Bushes fault. No new Ideas.

[taxcontrol]

Resession - when your neighbor loses his job
Depression - when you lose your job

Recovery - when Obama and Pelosi lose their jobs

[RC2]

I was stationed at the Naval Station in Long Beach, when it was alive. Did you know there was a landing stip on the base and under the landing strip was a storage wharehouse? There was a ramp that went under the air strip at one end of the runway. Very few people knew about this.

I understand the government sold the property to China. Not sure of this. I wonder if they sold the underground wharehouse also? If so, I would be curious to know what they are storing there.

[An Old Man]

I live in Long Beach and still can’t afford to buy.

I've got a nice home you might be interested in. How would you like to own a 4,800 SqFt. Home in a Cul-De-Sac and within walking distance of shopping and an elementry school. Price $250,000

[Retired Greyhound]

Sure, I’ll take it.

[An Old Man]

Great! Get your cash together and come over this afternoon. We can close the sale in time to record the deed today.

[stephenjohnbanker]

Hang in there. They will bottom out by fall of next year.