This is no surprise - existing home sales will be through the roof nationwide in November as buyers rushed to beat the initial deadline for the homebuyer tax credit. Also ignore the median price - it is skewed by the mix of properties sold. A few key points: A large portion of market activity is from first time homebuyers using FHA loans and investors. This is not a healthy market. The percentage of foreclosure resales has decline to 39.1 percent - still very high historically. The number of NODs (Notice of Default) has "flattened out or trended lower in many areas". This could be a positive, although I think the foreclosure activity is moving up the price chain - and these NODs are for more expensive properties. From DataQuick: A total of 19,181 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 13.3 percent from October’s 22,132, and up 14.7 percent from 16,720 for November 2008, according to MDA DataQuick of San Diego. Sales almost always decline from October to November. The year-over-year increase was the 17th in a row. In DataQuick’s statistics, which go back to 1988, the average November...