DataQuick's LA County home sale numbers for May are out and the news is not good: sales fell 18.3 percent from May 2010 and median price fell 7.2 percent. Last year, sales were propped up by federal homebuyer tax credits, but DQ President John Walsh says in a press release that "The government stimulus is long gone and some of the fundamental drivers of housing demand have yet to strengthen enough to lift sales to even average levels. Some of the key culprits are weak job growth, tight credit and a hesitancy among potential buyers and sellers." [LAObserved]
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