Looks like The West is getting pummeled. This is from The Street

“At a pace of 937,000 in the month, home sales fell from the revised December rate of 1.12 million, the Commerce Department said Wednesday. Economists expected 1.08 million sales. The sales were down 20% from a year ago.

In the West, which includes previous red-hot housing markets California, Arizona and Nevada, sales fell 37% from December to January. The region experienced a 50% decline in sales year over year.”