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 May 22, 2008

Southern California Home Sales on the Rise
It looks like foreclosures played a key role in giving the Southern California real estate market the boost it needed. Homes sales were higher in April than they have been in 8 months. DataQuick Information Systems, based in La Jolla reported that the numbers, according to their study, were up 22 percent from the numbers in March. With sales increasing four months in a row, one analyst claimed that the worst is in the past.
However, although the numbers are increasing they are still down from this time last year. In comparison, home and condo sales are down nearly 20 percent. But analyst insist that they are still very optimistic because recent sales are much more than normal.

Another factor in the recovering market is the growing confidence in lenders, who are increasingly making more and more loans.

It is still too soon to cry victory, but we will know after more time and more growth has occurred. "The market is doing great, but we still need to see more consistency. It will be much more evident if the current trend continues for six months."

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