April home sales in L.A. down 43%

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Though the market showed a few signs of life in April, Los Angeles home sales continue to slide dramatically from year-ago levels, with median prices also slipping, according to HomeData Corp.

HomeData numbers first reported in the Los Angeles Business Journal show:
--Sales for April increased 15% from March, but were still 43% below year-ago levels when April 2008 numbers are adjusted to show a four-week selling period.
--The median sales price slipped to $456,000.
--LABJ leads its story with the March-to-April jump in sales: ‘Los Angeles County home sales continued their rebound in April as warmer weather and falling prices coaxed home buyers back into the market.’ But the Journal adds, ‘While prospective buyers are leaving the sidelines, real estate observers believe it will take the market a few years or more to recover as foreclosures continue to muddy the market.’

Separate stats from the SoCalMLS, however, show almost no April bounce from March sales levels, and show the median home price flat at $475,000.

One caveat: The most widely quoted and reported stats on SoCal home sales are the DataQuick numbers, due out later in the month. I generally err on the side of publishing too much information rather than too little. You guys are smart enough to deal with two sets of data. Or three.

Hat tip: To Cal, via comments, on both sets of data. Thanks, Cal.
Comments? Thoughts? E-mail story tips to peter.viles@latimes.com.