RESALE PRICES SET NEW RECORD.Byline: Gregory J. Wilcox Staff Writer Resale housing prices set records in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and statewide during November even though sales dipped, an industry trade group said Thursday. In Los Angeles County the median price for a single-family home was $253,280, up 10.7 percent in the past 12 months, said the Los Angeles-based California Association of Realtors. The prior record was September's median of $250,690. The median is the point at which half the homes sold for more and half for less. Sales in Los Angeles edged down 3.3 percent. The statewide median was $278,740, an annual increase of 11.2 percent. That beat the prior record of $276,590 reached in August. Home sales in California fell 12.4 percent in November, the trade group said. The numbers are calculated on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis, which means there would be 493,870 sales this year if the market held to November's pace. The sales dip was not surprising, since November 2000 was the fifth-best month since the Realtors group has been tracking the market. ``There was a confluence confluence /con·flu·ence/ (kon´floo-ins) 1. a running together; a meeting of streams.con´fluent 2. in embryology, the flowing of cells, a component process of gastrulation. of events that led to some impressive strength late last year,'' said Robert Kleinhenz, senior economist at the association. They included low interest rates and growth in personal income. Reflecting the general shape of the economy, Southern California's real estate market continues to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern . And despite the soft economy, this is shaping up to be one of the best markets on record. The Realtors group report was a little bit better than the current survey by DataQuick Information Systems. That report showed sales falling 5.8 percent in Los Angeles County and with the median price of $230,000. However, DataQuick numbers also include new home and private party sales. The softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. sales are not making for a weak market, either. ``It's remarkably strong. Everyone is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a sign of the economic slowdown in the real estate market but there is no sign of that yet,'' said John Karevoll, an analyst at DataQuick. Here's a regional snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. of the state Realtors report: --Sales in Ventura County increased 3.2 percent. The median price was $349,400, up 19.1 percent on an annual basis. --Sales in Orange County fell 7.1 percent. The median price was $358,400, an annual jump of 11.1 percent. --Inland Empire figures were not available. |
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