Mixed signals on home data

Sure, August sales were horrible, according to the latest numbers from Dataquick - a 15-year low for the month, in fact. "But the big question is, 'Is this a normal post-cycle lull or is the sky falling?' I don't think we know yet," John Karevoll, DataQuick's chief analyst, told the LAT. Sales in L.A. County were down 34.4 percent from a year earlier, but the median price was up almost 6 percent, to $550,000. It might not make much sense, but as we've been reporting for some time, many affluent parts of L.A. are still being cushioned by heavy demand - lots of credit-worthy buyers out there - and by limited supply. Of course, everyone else is stuck. How long this pattern will last is anyone's guess, but Karevoll's uncertainty rings true. Keep in mind that many of the forecasters have been wrong about the market.

HOME SALES (change from Aug. '06)
Los Angeles -34.4%
Orange -33.9%
Riverside -46.4%
San Bernardino -47.2%
San Diego -19.4%
Ventura -31.2%

MEDIAN HOME PRICES (change from Aug. '06)
Los Angeles $550,000 (+5.8%)
Orange $642,250 (+1.9%)
Riverside $394,523 (-6.1%)
San Bernardino $360,000 (-1.6%)
San Diego $475,000 (-4.0%)
Ventura $575,000 (-4.2%)

Source: Dataquick Information Systems