California Real Estate short sales and price trends

May sales and price report

Existing, single-family home sales increased 35.2 percent in May to a seasonally adjusted rate of
556,590 on an annualized basis.

· The statewide median price of an existing single-family home increased 4.2 percent in May to
$267,570, compared with April 2009.

Inventory on homes priced under 400,000 is very low.
In San Diego many of the lower priced homes are short sales and most of the short sales already have offers.