Here are the sales breakdown for the San Fernando Valley and Ventura County for April 2009. Distressed sales are still the majority of sales and short sales are slowly gaining strength. Foreclosure / REO sales have declined as a percentage of sales that past 2 months. This suggests normal sellers are becoming just a bit better in pricing as well meeting with seasonally increased demand. These numbers are preliminary and should increase about 10% over the next 10-12 days due to late reporting. Sales for April look muted relative to the demand we have seen on the weekly inventory charts. This means people are either having trouble getting closed or lenders are having trouble processing the surge in demand.If this keeps up we could go negative on the year over year sales numbers as early as next month. I will update these numbers mid-month to account for late reporting sales.
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