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Wednesday, September 12, 2007

 

So Much For Peak Season

The Los Angeles Times reported today that Southern California's dismal home-sales figures last month ranked it as the worst August in 15 years:
Sales last month were the worst for any August since 1992, according to research firm DataQuick Information Systems. Last month 17,755 homes were sold in the six-county region, compared with 27,875 a year earlier, for a 36.3% drop.
The story also included the usual expression of uncertainty about what it all means. John Karevoll, DataQuick's chief analyst, was quoted as saying: "Things are slow, but the big question is, 'Is this a normal post-cycle lull or is the sky falling?' I don't think we know yet."

* * * Also, while we're on the subject of housing ... A hat tip is long overdue to Curbed LA, which has does an outstanding job with its original daily reporting and considerable linkage to all things housing in Los Angeles. Definitely worth a regular visit.

— TJ Sullivan in LA
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