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19-YEAR HIGH HIT IN SALES OF HOMES.


Byline: Laurie Whalen Bloomberg News

California home sales jumped to a 19-year high in the second quarter as the state's economic rebound rebound (rē´bownd),
n/v 1. a recovery from illness.
n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus

rebound adjective
 and low mortgage rates encouraged demand, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 the California Association of Realtors and Transamerica Intellitech's MetroScan service.

Some 626,090 single-family homes changed hands during the second quarter, an 18 percent increase over the same period last year. More than two-thirds of the state's 337 cities and communities reported rising prices, with the median price up 10 percent at $204,680.

G.U. Kruger, the deputy chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the  at CAR, said the housing market was benefiting from the sweet spot the state's economy finds itself in. He predicted, however, that the increase would slow in the short term.

``With interest rates low, jobs booming and prices rising, all of these things "These Things" is an EP by She Wants Revenge, released in 2005 by Perfect Kiss, a subsidiary of Geffen Records. Music Video
The music video stars Shirley Manson, lead singer of the band Garbage. Track Listing
1. "These Things [Radio Edit]" - 3:17
2.
 together create a strong housing demand,'' Kruger said. ``But in the third quarter we expect to see a slowdown because of the Asian crisis coming ashore.''

A handful of cities reported double-digit median price increases. Santa Clara Santa Clara, city, Cuba
Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba.
 experienced one of the most dramatic price increases, with prices rising 22.6 percent to $378,320.

CAR has more than 90,000 members, making it one of the largest state trade organizations.

Transamerica Intellitech, a subsidiary of Transamerica Corp., provides real estate companies with information and software assistance.
COPYRIGHT 1998 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:BUSINESS
Publication:Daily News (Los Angeles, CA)
Article Type:Statistical Data Included
Date:Aug 13, 1998
Words:220
Previous Article:ANALYSTS, INVESTORS LIKE SOUND OF SOLID SALES AT GUITAR CENTER.
Next Article:APPRECIATION OF HOMES BOOSTS CONFIDENCE LEVEL.



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