A real-estate tracking firm says San Diego County home sales dropped 12 percent last month, compared to the year before. KPBS reporter Andrew Phelps has details.
May is traditionally a busy sales month, but not last month. It was the county's slowest May since 1995.
Andrew LePage of DataQuick Information Systems says there's a lot of talk about hitting bottom. But he expects the market will get worse before it gets better.
LePage: Before we get serious about talking about bottom, we really need to see the sales volume turn around a lot more and see you know a string of months where sales are coming up over year-ago levels, and we're just not there yet. My hunch is that it's going to be a pretty uneven road to recovery.
LePage says three dark clouds are still looming: a credit crunch, a subprime mortgage crisis, and an overall slow economy.
Prices also dropped sharply. San Diego County's median was $380,000 dollars in May. A year ago, it was $492,000.
Andrew Phelps, KPBS News.
