Southern California Home Sales at Lowest Level in 3 Years in April

Southern California home sales fell to the lowest level in three years for the month of April, according to DataQuick who monitors real estate activity nationwide. Distressed sales, Foreclosures and Short Sales, were down slightly.

April marked the 10th consecutive month in which Southland sales fell year-over-year. The median price paid for all new and resale Southland houses and condos purchased last month was $280,000, down 0.2 percent from $280,500 in March, and down 1.8 percent from $285,000 in April 2010.

Fred Arnold, Branch Manager for American Family Funding in Santa Clarita blames uncertainty.

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