Southern California’s home sales hit 5-year high, but low end doesn’t look so good Southern California’s housing market gained momentum in September as sales hit a five-year high for the month and increased from the year-ago level for the first time in a year amid continued moderating price increases, a market tracker said Monday. Last month sales of new and previously owned houses and condominiums increased 1 percent and the median price rose 8 percent, according to CoreLogic DataQuick. The slight sales bump was driven by increased activity at the mid to high end of the market, the company said. During September sales increased from 19,112 a year ago to 19,348. And sales were up 3 percent from August, which suggests the market may finally be getting some traction. On average, sales have fallen 9 percent between August and September since 1988, when CoreLogic DataQuick began keeping statistics. Before last month’s gain, sales had fallen from a year ago for 11 consecutive months, CoreLogic DataQuick reported. September home sales have ranged from a low of 12,455 in 2007 to a high of 37,771 in 2003. But last month’s total was 18 percent below the September average of 23,695 sales since 1988. CoreLogic DataQuick analyst Andrew LePage said that September’s small sales increase by no [...] newsinca/southern-californias-home-sales-hit-5-year-high-but-low-end-doesnt-look-so-good/
Posted on: Mon, 13 Oct 2014 23:31:00 +0000
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