MLS Real Estate & Listings Blog

New single-family home sales dropped to the lowest rate in February since 1995, and sales were down about 29.8 percent from the February 2007 rate, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today.

The seasonally adjusted annual rate of new single-family home sales was 590,000 in February — this rate is a projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity.  more…

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Sales of previously owned homes hit an adjusted annual rate of 5.03 million in February, which was down 23.8 percent compared to the same month last year but was up slightly from January 2008, ending a six-month slide, the National Association of Realtors reported today.  more…

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Although February home sales across Southern California and the San Francisco Bay Area picked up from January, they posted huge declines from a year ago and median prices tumbled.

According to real estate information service DataQuick, home sales last month in the six-county Southern California region limped along at the slowest pace ever for a February — with just 10,777 new and resale houses and condos changing hands. That’s a 39 percent decrease from the 17,680 sales reported in February 2007, but an 8 percent jump from 9,983 sales in January 2008.  more…

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