Home sales at lowest level in five years
DataQuick Information Systems reports that "The number of Southern California homes sold in January edged down to the lowest level in five years as many potential buyers decided to sit on the fence during the real estate market's off-season."
Just how far off are sales? DataQuick says 30% from December's sales levels, and down 7.4% from last January's numbers.
Noting that this is typical for December to January sales, the 30% decline may be an indication of what is to come this year.
To read more: January sales from DataQuick