I try not to write much abut real estate anymore because frankly said, there isn’t much good news.

Last post that grabbed my attention on Calculated Risk was a new record for Southern California. Nothing new here if not the numbers keep on getting bigger.

From DQNews.com:

“Southern California home sales remained at their lowest level in more than 20 years last month … Prices have dropped back to spring 2005 levels…”

It’s definitely the kind of article you want to show those enthusiastic sellers who are not willing to see as the professionals you are. Maybe it was the front page of the Press Telegram today underlining the same message?

On the flip side, I am seeing more sellers grasping the reality of this market. Many are turning to rentals. Guess what will happen in a few months? Too much for rent and rental prices will come down.