DataQuick - Home Sales Rise Again
August 18, 2009
La Jolla, CA---Southern California homes sold last month at the
fastest clip for a July in three years and the fastest pace for any
month since December 2006. The median price paid rose slightly from
June – marking the third consecutive month-to-month gain – as sales in
pricier coastal areas continued to rise and sales of lower-cost
foreclosures waned, a real estate information service reported.
A total of 24,104 new and resale houses and condos closed
escrow in San Diego, Orange, Los Angeles, Ventura, Riverside and San
Bernardino counties last month. That was up 3.6 percent from 23,262 in
June and up 18.6 percent from 20,329 a year ago, according to San
Diego-based MDA DataQuick.
July’s sales total was 8.7 percent lower than the average number sold
in July – 26,410 – since 1988, when DataQuick’s statistics begin. July
home sales have ranged from a low of 16,225 in July 1995 to a peak of
38,996 in 2003.
Sales have increased year-over-year for 13 consecutive months.
They’ve been driven higher by increased affordability, low mortgage
rates, plentiful government-insured FHA financing for first-time
buyers, robust investor demand and, more recently, improved access to
the “jumbo” financing used to buy more expensive homes.
Read Full Story...http://www.dqnews.com/Articles/2009/News/California/Southern-CA/RRSCA090818.aspx