Sales slow, prices up.The housing news was a familiar refrain Tuesday as DataQuick Information Services released its housing numbers for October in Southern California.
Of course, “slow” wasn’t as slow as it had been a month earlier, and “up” wasn’t true in every one of the Southland’s counties.
It’s all part of what analysts and economists are calling a transitional housing market.
“There’s nothing all that surprising here,” said regional economist Jack Kyser. “It’s just a continuation of the trends we have been seeing ever since the market peaked.”
The median price of a home in Southern California was $484,000 in October, the same as in September and up just 2.3 percent over a year ago.
Home prices in Southland counties in October and their percentage change from a year ago: Los Angeles — $514,000 — up 4.5
Orange — $625,000 — up 3.1
San Diego — $485,000 — dn 5.5
Riverside — $410,000 — up 4.9
San Bernardino — $362,000 — up 2.3
Ventura — $582,000 — dn 2.3
That made October the seventh consecutive month in which year-over-year increases were in single digits.
Home sales were down
Tags: Mortgages, Real Estate, Homes, Market Conditions
