Bad News:

There was a 12.9% drop in Home Sales

Good News (for Home Owners):

Median Prices rise 6.5% in LA

Complete Look at the Marketplace in Los Angeles County:

Sale Prices Dec, 05 Nov, 06 Dec, 06 Y-O-Y Chng.
Resale houses 520k 540k 550k +5.8%
Resale Condos 400k 410k 412k +3.0%
New Homes 445k 483k 511k +14.8%
Combined 490k 510k 522k +6.5%
# of Sales Dec, 05 Nov, 06 Dec, 06 Y-O-Y Chng.
Resale houses 6,276 5,167 5,405 -13.9%
Resale Condos 1,542 1,277 1,254 -18.7%
New Homes 1,027 907 1,044 +1.7%
Combined 8,845 7,351 7,703 -12.9%

Source: DataQuick Information Systems