WHAT WERE THE ACTUAL NUMBERS?

The total number of sales for January (the last full month available), in Orange County was 1,872.  This number included 1,218 single-family, 574 condos, and 80 new homes.  The volume of sales was down 27% from December, and only 3% off January 2011.  Prices were down 5.5% overall, with single-family down 6.3% and condos off 9.6% from the previous year.  But a silver lining for the entry level as prices actually went up year over year.  The price range of $400,000 and under shot up 6.9% and $400,000 to $500,000 improved 1.7%.  As expected, the higher price ranges suffered the most decline in volume, especially the $600,000 to $700,000 price range which was off by 20% from January 2011.  There were1, 204 Notices of Default recorded.  This number somewhat reflects the banks intent to short sell many properties, rather than foreclose, as actual foreclosures numbered only 530.  The average monthly payment continues to float downward reflecting the lowering of and stability of interest rates.  It was recorded at $1,958, a decline of nearly 5% from the previous year.