The Used House Salespeople report from California. “Home sales decreased 29.8 percent in January in California compared with the same period a year ago, while the median price of an existing home fell 21.9 percent, C.A.R. reported today. ‘The slight increase in sales predates the president’s signing of an economic stimulus package including a temporary increase in the conforming loan limit, but that much needed reform could give the market some momentum,’ said C.A.R. Chief Economist Leslie Appleton-Young. ‘Let’s hope congress and the president see fit to make the higher loan limit permanent.’”

“C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in January 2008 was 16.8 months, compared with 7.6 months for the same period a year ago.”

“In a separate report covering more localized statistics generated by C.A.R. and DataQuick, 6.3 percent, or 16 out of 253 cities and communities, showed an increase in their respective median home prices from a year ago.”

The Tribune. “In another sign of how the mortgage lender crisis has hit San Luis Obispo County, Estate Financial Inc. is having …

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