WHAT WERE THE EXACT NUMBERS?

All Southern California counties (Ventura, LA, OC, Riverside, San Bernardino, and San Diego) sold 18,394 homes in the month of May (the last complete month available).  That was up 0.3% from April, but down 17.4% from a year ago.  (closings, not pendings)  The total number of sales for Orange County was 2,664 and that was off 5.6% from April and 18.2% from a year ago.  Given those overall numbers, here are some worth noting:  There were 1,230 full sales (equity), only 266 short sales, and only 248 bank owned closings.  This is for single-family resale.  Note how many more equity sales there were than distressed.  Condos fared not as well; the ratios were closer to 50/50.  There were 378 full sales, 198 short sales, and 194 REO or bank owned.  Overall median price per square foot was $285 for full sales, $248 for short sales, and $241 for REO.  There were 1,201 notices of default recorded, 1,720 notices of trustee sale recorded.  The disparity in these numbers is mainly due to banks finally finishing the foreclosure process for many homes that have been in default, literally, for years.
There were 473 properties that went to foreclosure auction, that no one bought, and they became the latest crop of bank owned properties.  However there were 222 properties that were purchased at auction by private parties.   Again there was a large number of homes sold under $400,000 -- 1,155 to be exact.  The opposite end, the number over $700,000 was 483.  All other sales fell in between.  (Source: Dataquick / Gregorich/ Public Records)