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SALES DROP AS REAL ESTATE MARKET COOLS BUYERS GAINING A FOOTHOLD.


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 FARRELL AIDEM Staff Writer

SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country,  -- After nearly two years of limited inventory and rising home prices, it's a buyer's market A Buyer's Market is the second novel in Anthony Powell's twelve-novel series, A Dance to the Music of Time. Published in 1952, it continues the story of narrator Nick Jenkins with his introduction into society after boarding school and university. .

Brokers have complained since the sizzling siz·zle  
intr.v. siz·zled, siz·zling, siz·zles
1. To make the hissing sound characteristic of frying fat.

2. To seethe with anger or indignation.

3.
 real estate market ignited in 2003 that there was too little inventory and buyers were snatching up homes as quickly as they were up for sale. But all that has changed in recent months as sales slowed and more and more for-sale signs hang longer in front yards.

Housing sales in June dropped substantially compared to a year ago. In fact, it was the slowest June in years, 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.
 a monthly sales report by the Southland Regional Association of Realtors.

The association's Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672.  Division reported 253 homes sold in June, compared to 405 in the previous year and 400 in June 2004.

``The boom market with sellers in total control was terrible for buyers,'' said Peggy Mueller, president of the association's local division. ``The selection of properties is better today, and buyers can secure what they want at their own pace. This market is much more balanced, much more desirable and, in the end, much more beneficial for all parties.''

The number of homes on the market nearly tripled in June, in time for the traditionally busy summer sales season.

The median price of a resale home was $610,000, a drop from April's record high of $643,000, but holding steady since December when sales hit the $600,000 threshold.

Condominium sales also slowed -- 117 sold in June compared to 190 a year ago and 201 in June 2004. The median price remained a healthy $375,000 compared to January's record $397,000.

pat.aidem(at)dailynews.com

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Publication:Daily News (Los Angeles, CA)
Date:Jul 21, 2006
Words:283
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