Monday, June 9, 2008

May 2008 SoCal MLS sales.

The SoCal MLS, which covers only a small portion of Southern California, has published May sales on its website:

Single family home sales down sequentially, which would mean down year over year as well.

As I
reported for the SFV in April the condo market is not seeing any rebound, seasonal or otherwise. This continues on in the May SoCal MLS numbers:

If these numbers hold up in the same ratio to Dataquick reported numbers then we might see more homes foreclosed than sold in May 2008. But it is possible that the areas not covered in the SoCal MLS, which encompass more outer and low cost areas, are having a bigger boon in sales due to the foreclosure effect.

It is also possible that the SoCal MLS isn't done reporting sales and some late reporters could boost the numbers.

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