WHAT WERE THE ACTUAL NUMBERS?

There were modest gains across the southland for volume, while prices declined a total of 3.7%.  (This is for the counties of Ventura, LA, Orange, San Bernardino, Riverside and San Diego.)  There were a total of 14,369 sales for February 2011 and 15,573 for February 2012.  Orange County had a total of 1,904 for February 2012, Riverside came in at 3,011, and San Bernardino had 2,082.  Short sales made up an estimated 20.5% of all southland sales and foreclosures accounted for 32% of the sales in March for all of So Cal.  Absentee buyers-- mainly investors and a few second home buyers, bought a record 29.7% of all sales in So Cal.  This is a strong number that would indicate prices are reaching a bottom.  Jumbo loans are making a strong comeback accounting for 14.4% of the total purchase loans for the month.  Adjustable rate loans had a sliver of the market at just over 5%.  Obviously, conforming fixed rate loans grabbed the lion's share of the lending market.  Finally, all cash purchasers accounted for a record 32.8% of southland, February home sales, slightly up from the previous month and for February of the previous year.