A new report about housing in Southern California doesn’t look good.

Sales of houses and condominiums in the most populous Southern California counties fell 29.9 percent from the previous month and 48.5 percent from a year earlier, DataQuick Information Systems said on Tuesday. The report covers the counties of Los Angeles, Orange, San Diego, Riverside, San Bernardino and Ventura and showed a total of 12,455 new and existing homes and condos sold in September, the lowest since the company began recording the data in 1988.¹

So, sales of homes last month were at their slowest rate in 19 years. No surprise!

With prices still in the stratosphere, it is no shock to me that nothing is selling. Everyone knows that the market is coming back, but the price of properties in SoCal are still 30-40% higher than they were 4 years ago and almost double what they were 7 years ago.

I’m going to be short the market for some time to come!

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Tags: california real estate, los angeles, real estate, san diego, southern california real estate