Sales in Los Angeles County were not easy to come by in February of 2008. The chart to the left shows the sales from this February in Los Angeles to last February.
So what does all of this mean? Sales in Los Angeles County are off just over 46%! Now 2007 was done from the previous year but in all fairness that year was a record year for real estate.
Does this mean that the real estate marketing in Los Angeles is falling apart? I hardly think so. While the transaction volume continues to decrease the prices of the homes is not falling at the same rate. While the data on this is more difficult to come by I can tell you that homes in the Los Angeles County town of Lakewood, CA that were selling for $500,000 are not selling for $270,000. Real estate in southern California is a solid long term investment. While sales volume is down the prices are not down the same amount which is a good thing for all home owners. There are still properties to buy for the buyers and sellers can find willing buyers if they are willing to work things out!
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