Only in southern California, whose market is so decidedly tilted away from that of the country as a whole, would real estate sales be up. Despite the high level of mortgage forclosure across the country, the sale of homes rose 41.3% in Feburary 2008, perhaps in response to a 38.7% decline in prices. Despite the region being ground zero of the sub-prime mortgage crisis, it seems to have bounced right back, perhaps an encouraging sign for the housing market nationwide.
Source:
Southern California Home Sales Up Again
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