Reply #38: April home sales in Southern California hit three-year low for the month

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http://www.latimes.com/business/realestate/la-fi-spring-home-buying-20110513,0,1259102.story

It is shaping up to be a silent spring for the housing industry.

Warmer days and the need for many families to make a move during the summer school recess have long made spring the peak season for buying homes. But lingering economic uncertainties and the expiration of federal tax incentives — which juiced up sales last year — have turned the market soft.

April home sales in Southern California were down 9.2% from a year earlier. The figure, the lowest for April in three years, was 25.4% below the month's average since record-keeping began in 1988, DataQuick of San Diego reported Thursday.

The median price paid for a home in the region fell 1.8% from a year earlier to $280,000