Foreclosures, falling prices and billboards

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A bunch of headlines today all deserve posts of their own. But, as Kennedy said, life is not fair, so they get lumped into a roundup:

--Foreclosure activity in California rose 7.25% from December to January and is pacing 120% ahead of year-ago levels, according to RealtyTrac.

--In a dismal report on January home sales, the California Association of Realtors said sales fell 29.8% from year-ago levels, median prices fell 21.9% from year-ago levels, and inventory spiked to 16.8 months’ worth of unsold homes. Prices in Los Angeles were down 18.4%, sales were down 38.1%.

--Listing prices in greater L.A. fell by $100 over the past week, to $469,900, a decline of 14.6% from year-ago levels, according to Housing Tracker’s weekly analysis of MLS listings. Inventory of unsold houses and condos was flat at 41,849, an increase of 32.2% over year-ago levels.

--In the biggest news of all in the Viles household, L.A. Land is now being promoted on electronic billboards all over town. Don’t drive off the road trying to read them. But when you get home, go to the blog and hit ‘refresh’ 27 times.

Thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: An electronic billboard featuring L.A. Land, from Bus Blog