New housing data sends mixed signals
As Reported in the Wednesday, July 29th, 2009 Los Angeles Times, new housing data sends mixed signals about the state of the market. Although the S&P/Case Schiller index of home prices in 20 metropolitan areas was up slightly in May over its April level, the local Los Angles index, which includes Orange County was down 19.8% from the year-ago month. Also, inventories of unsold homes still remain very high and recently reported increases in the median home sales price may be a reflection of more high end homes hitting the market as opposed to a broad based increase in all prices. Click the photo at left to link to the LA Times article.