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Saturday, Jun 3, 2023

Home Sales Slow While Prices Rise

Home sales across Southern California fell to their lowest levels for the month of February since 1997, while prices continued to rise, according to a report just released by DataQuick yesterday. In Los Angeles County, 6,300 homes were sold in February, down more than 11 percent from the number of homes sold in February, 2006, the data revealed. Meanwhile the median price of a home in L.A. county rose 7.8 percent to $528,000. “February’s record Southland median is another indication the housing market, although certainly weaker than last year, is hardly down for the count, as some would suggest,” said Marshall Prentice, president of DataQuick in a release announcing the data. L.A. and San Bernadino counties were the only ones to log year-over-year gains in their median prices for February. Median home prices declined in Orange, San Diego, and Ventura counties and were flat in Riverside.

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