Inland regions experience sharp year-to-year decline

• Statewide sales jumped from April to May, but national figures fell over same time period: Existing single-family home sales in California registered a seasonally adjusted annualized rate of 552,800 units in May, increasing 14.1 percent month-to-month.  By contrast, U.S. sales have shown little upward momentum after hitting bottom in December 2007.

• Inland regions of the state experience sharp year-to-year decline in sales: Monthly sales in the Riverside/San Bernardino and High Desert regions rose to record-high levels during late 2008 and the first part of 2009 as large numbers of distressed sales were pushed through the market.  Shifting forward to 2010, sales in these areas of the state remained strong, but have pulled back significantly compared with a year earlier.