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CALIFORNIA MORTGAGES HAVE GROWN DURING THE PAST YEAR

 CALIFORNIA MORTGAGES HAVE GROWN DURING THE PAST YEAR
 LA JOLLA, Calif., Dec. 30 /PRNewswire/ -- Despite flat or


slightly declining home prices, California mortgages have grown in size the past year.
 During the September-through-November period, the average California home buyer borrowed $157,976 to purchase a home (see chart). That was 2.1 percent more than $154,781 for the same period last year, according to La Jolla-based Dataquick Information Systems.
 "Lower prices and larger mortgages may seem contradictory at first glance, but they're not," said Donald L. Cohn, Dataquick president.
 "Today's median sales prices are lower because entry-level buyers are the ones buying. They typically get into their first home by borrowing as much of the sales price as they can," Cohn said.
 Home buyers in the Bay Area have the largest mortgages, according to Dataquick. At the top is Marin County with $239,950, followed by San Francisco with $227,724 and San Mateo with $227,015.
 Central Valley counties have the smallest mortgages, in Tulare County the average is $77,534. Data quick monitors all California real estate buying and financing and provides real estate data to lending institutions, title companies and industry analysts.
 RESIDENTIAL MORTGAGE
 County
 Sep/Nov Sep/Nov Pct.
 1990
 1991
 Chng.
 Los Angeles
 $173,972 $176,107 1.2 pct.
 Orange County $174,692 $182,953 4.7 pct.
 San Diego
 $155,062 $154,827 -0.2 pct.
 Riverside
 $134,404 $121,552 -9.6 pct.
 San Bernardino $112,979 $119,478 5.8 pct.
 Ventura $176,972 $176,056 -0.5 pct.
 So. Calif.
 Total
 $159,717 $163,088 2.1 pct.
 San Franciso $226,043 $227,724 0.7 pct.
 Alameda $167,049 $167,920 0.5 pct.
 Contra Costa $162,365 $179,120 10.3 pct.
 Santa Clara
 $199,312 $202,431 1.6 pct.
 San Mateo
 $231,607 $227,015 -2.0 pct.
 Marin $223,579 $239,950 7.3 pct.
 Solano $127,320 $135,595 6.5 pct.
 Sonoma $150,724 $138,347 -8.2 pct.
 Napa $145,765 $151,421 3.9 pct.
 Bay Area Total $178,775 $184,277 3.1 pct.
 Santa Cruz
 $163,263 $157,686 -3.4 pct.
 Santa Barbara $165,914 $165,505 -0.2 pct.
 Monterey
 $154,236 $157,877 2.4 pct.
 Coast Total
 $161,095 $160,376 -0.4 pct.
 Sacramento
 $119,727 $115,356 -3.7 pct.
 San Joaquin
 $107,719 $108,981 1.2 pct.
 Placer
 $131,226 $145,248 10.7 pct.
 Kern
 $86,709 $89,246 2.9 pct.
 Fresno
 $91,287 $89,476 -2.0 pct.
 Madera
 $78,802 $87,231 10.7 pct.
 Tulare $77,046 $77,534 0.6 pct.
 Yolo
 $104,908 $110,408 5.2 pct.
 El Dorado
 $108,753 $126,994 16.8 pct.
 Stanislaus
 $100,589 $101,051 0.5 pct.
 Inland Total $106,332 $102,860 -3.3 pct.
 All Calif. $154,781 $157,976 2.1 pct.
 -0- 12/30/91
 /CONTACT: John Karevoll, 714-867-7656/ CO: Dataquick ST: California IN: FIN SU:


SE -- LA013 -- 5757 12/30/91 17:14 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Dec 30, 1991
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