True or False – “Pending Home Sales Plummet”

For Palos Verdes homes owners, is that statement true or false?  Today’s LA Times Business section ran an article (click here to read) with that headline regarding pending home sales for April 2011 vs March.  That is not true for Palos Verdes real estate where statistics show that April pending home sales in Palos Verdes were up 35% compared to March 2011 (and March had climbed 31% from February).

The LA Times article was taken from National Association of Realtors statistics which were for all of the United States.  Our area has fortunately been experiencing much stronger sales.  It appears that May Palos Verdes homes sales is continuing our upward trend.  To date, 50 Palos Verdes houses have sold at an average sales price of $1,558,932.   Please click here or on the “Statistics” tab above to see charts for Palos Verdes real estate sales for the past 15 months.

I have learned that the bottom line when reading real estate articles is to identify if they reflect national, California or local sales.  They can be very different.

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