Home buyers were scarce in July. Sales of single-family homes in the San Fernando Valley plummeted nearly 33 percent compared to a year ago, signaling a reluctance to pay current prices, according to the Southland Regional Association of Realtors. In July 809 single family homes sold, compared to 1,203 homes sold in July 2005. The SRAR report also indicated that on a month to month basis, home sales fell 12 percent, in what the organization called the busiest time of year for residential real estate transactions. Condominium sales fell almost as much, down nearly 30 percent in the month, with 317 units sold in the month, versus 415 condominium sales in July, 2005.
