I’ve been frothing quite a bit about how important it is that Las Vegas sales are up month over month, compared to 2007. It’s important because most of the country is heading in the opposite direction, selling fewer houses than in 2007. Look at how different things are over in Southern California:
By ALEX VEIGA
AP Business Writer
LOS ANGELES —
Sales volumes for the region climbed about 8 percent from April but were down nearly 15 percent from May 2007.
In all, 16,917 new and preowned homes were sold in May, down from 19,874 in the same month last year, the firm said.
Only in a few other parts of the country are sales higher now than a year ago, and they’re all places where the downturn has been harshest, such as Sacramento. Here’s a report from Sacramento.