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Ventura County Trustee Sales for February 2010 came in at 253. This is essentially flat to the previous months on a foreclosure per day basis. The market continues in its static state with no change apparent on the horizon.
Los Angeles County Trustee sales came in at 2515 for February 2010. Flat to slightly lower on a foreclosure per day basis.
Orange County trustee sales for February 2010 came in at 670. As always I am impressed with the number of third party sales in the OC.
San Diego trustee sales for February 2010 came in at 1090, Basically flat on a foreclosure per day basis to the previous months.
Here is the sales breakdown for the San Fernando Valley for February 2010. The SFV has a lot more late reporters as a percentage of sales and so it is a bit tougher to discern right now just how weak or strong sales will ultimately be for February . It appears that sales should be lower YoY when all the late reporters are counted. These sales levels are extremely weak historically and just an indication of this highly engineered market. Stagnation continues to be the word of the day.
Here are the sales for Ventura County for Febuary 2010. Sales are still very low, with late reporters I expect the official Dataquick numbers will be up a bit YoY at around 580-600 sales (still very low historically). This continued stagnation in the market is the same boring story, less supply due to government intervention trying to keep prices high at all costs. I don't see any signs of the ice melting yet just more of the same with a bit of seasonal inventory coming on market. The stuff in the affordable ranges gets gobbled up quickly, the overpriced stuff just sits. Short sales and foreclosures are around half the market but the shift has been ongoing for some time from predominately foreclosures to an even split of short sales and REO.
Dataquick released its February 2009 home sales report for Southern California. For Ventura County sales came in at 545, up 10.1% from the year before and down 5.7% from the previous month. Median price came in at $327,000 which is down $118,000 (-26.5%) from the year before and down $303,000 (-48.0%) from the peak. The mix shift of the lower end foreclosures are driving any strength in sales but sales are extremely weak. Last year at this time rates were 5.92% and rates now are hovering around 5%, prices have come down a lot and yet sales were anemic. This is the seasonal low point for the year so I wouldn't put too much stock into it. Sales will improve as the initial rush of the tax credit buyers clear through the market. After that I would expect sales to slow further, possibly even go negative Year over Year and due to low end slowing sales, median price to rise a bit. This is all driven by the slow down in motivated inventory due to the foreclosure moratoriums and the deteriorating economy.
Here are the preliminary sales and price estimates for the San Fernando Valley for February 2009. Single Family Home (SFH) sales are estimated to be 465 with the median price of approximately $350,000. Condo sales are estimated to be 145 with the median price of approximately $195,000. Sales are still very weak historically but off the all time low which was set in February 2008. I am seeing a surge in pending transactions which I attribute to both seasonality, as February is the seasonal low point, and people rushing to claim the tax credit. I think the tax credit rush is a temporary effect and sales will be muted by the deteriorating local economy as we move into mid-year.
San Fernando Valley Single Family Home sales for February 2010 came in at 458 which is down 7.29% MoM and down 4.58% YoY. The median price for single family homes came in at $375,000 which is down 1.32% MoM and up 10.33% YoY. The supply constrained market is hurting sales in the SFV. Based on what I am seeing in the weekly inventory reports that doesn't appear to be changing anytime soon.
Condo sales came in at 190 which is down 6.86% MoM and up 17.28% YoY. Median price for condos came in at $227,000 which is up 5.58% MoM and up 8.09% YoY. Condos are faring much better than SFH because there is more supply due to all the new condo construction during the boom and it appears some buyers are choosing to buy a condo when they can't find what they want in a detached home. 
The red line was my attempt to create a predictor for sales but it hasn't been working out so well since May of this last year. IMHO, it appears that some pendings are being double counted, instead of falling out and going BOM (which would reduce my predictor), they are just switching buyers and updating the pending date which gets them counted in the current months pendings again. This is supposition on my part since I don't know how SRAR constructs their numbers but nothing much else makes sense. 
