Relevant:
- Southern California home prices continue slide in May
- Southern California Home Sales Rise 14% as Investors Make Record Purchases
- FHA low down payment buyers and cash investors dominate Southern California housing market – Not a healthy market when over 63 percent of sales come from these two groups. Move up sellers unable to shift because of negative equity.
- southern california home sales lowest since 2008
- Southern California Home Sales Rise on Investor Purchases
2011-07-13 — latimes.com
"Sales rose 11.6% from May, driven by first-time buyers and investors scouring the market for bargains. A total of 20,532 newly built and previously owned homes sold in the region last month, according to DataQuick of San Diego. That tally was nevertheless a 14.0% decline from the same period a year ago, the last month that buyers could close on their home purchases and qualify for the popular federal tax credit."
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