Printer Friendly

SOUTHERN CALIFORNIA HOME SALES DOWN IN JANUARY

 RUNNING SPRINGS, Calif., Feb. 17 /PRNewswire/ -- A total of 9,867 new and used houses and condos were sold in Southern California last month, according to a real estate newsletter.
 That was 10.3 percent fewer than January a year ago when 10,994 homes were sold. It was 37.8 percent behind December's 15,866 sales count, according to the Southern California Real Estate Observer.
 Single-family resale prices continued their slow slide of the past year (see chart). January's median price was $177,000, down 1.7 percent from $180,000 a year ago. Condo resale prices increased 1.4 percent to $141,000.
 "One shouldn't read too much into January sales numbers. There was all that nasty weather in December and January, and January is traditionally a weak sales month anyway," said John Karevoll, newsletter editor.
 "What's more important is that prices have continued to come down, especially for larger homes. As long as they're realistically priced, they'll sell. The large home market has been dead in the water for a year and a half, it would be nice to see sustained activity there again," Karevoll said.
 The Observer gets its home sales information from La Jolla-based Dataquick Information Systems. The numbers include all so-called "arms-length" transactions. Sales to immediate family members and transfers of ownership to trusts are not counted.
 Sales of newly built homes totaled 1,191 in January, 39 percent down from 1,952 in January 1992.
 Lenders started foreclosure proceedings on 6,953 Southern California home owners in January, up 2.4 percent from December's 6,793 and up 67.2 percent from January a year ago. Foreclosure proceedings peaked in August at 7,316.
 Single family No. Sold No. Sold Pct. Med(K) Med(K) Pct.
 resale Jan-92 Jan-93 Chng Jan-92 Jan-93 Chng
 Los Angeles 3,358 3,387 0.9 pct. $190 $185 -2.6 pct.
 Orange County 1,022 1,029 0.7 pct. $225 $217 -3.6 pct.
 San Diego 1,108 1,108 0.0 pct. $174 $173 -0.6 pct.
 Riverside 662 587 -11.3 pct. $134 $129 -3.4 pct.
 San Bernardino 1,008 814 -19.2 pct. $126 $128 1.6 pct.
 Ventura 308 368 19.5 pct. $213 $195 -8.2 pct.
 So. California 7,466 7,293 -2.3 pct. $180 $177 -1.7 pct.
 Condo resale No. Sold No. Sold Pct. Med(K) Med(K) Pct.
 Jan-92 Jan-93 Chng Jan-92 Jan-93 Chng
 Los Angeles 588 549 -6.6 pct. $153 $150 -1.6 pct.
 Orange County 242 233 -3.7 pct. $150 $143 -4.7 pct.
 San Diego 440 356 -19.1 pct. $123 $125 1.6 pct.
 Riverside 118 92 -22.0 pct. $135 $155 14.8 pct.
 San Bernardino 93 64 -31.2 pct. $107 $120 12.1 pct.
 Ventura 95 89 -6.3 pct. $140 $145 3.6 pct.
 So. California 1,576 1,383 -12.2 pct. $139 $141 1.4 pct.
 -0- 2/17/93
 /CONTACT: John Karevoll, 909-867-9534/


CO: ST: California IN: FIN SU:

EH-JL -- LA034 -- 7539 02/17/93 16:59 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 17, 1993
Words:516
Previous Article:DWG CORPORATION ANNOUNCES SETTLEMENT AND DISMISSAL AGREEMENT EXECUTED
Next Article:GRAMMY NOMINEE LITA FORD AND HOT R&B GROUP TLC TO APPEAR ON 'THE ARSENIO HALL SHOW,' FRIDAY, FEB. 19
Topics:


Related Articles
SOUTHERN CALIFORNIA HOME SALES UP 10.1 PERCENT IN APRIL, ACCORDING TO THE SOUTHERN CALIFORNIA REAL ESTATE OBSERVER
SOUTHERN CALIFORNIA REAL ESTATE OBSERVER REPORTS SOUTHERN CALIFORNIA HOME SALES
TOP 50 BEST-SELLING NEW HOME PROJECTS ANNOUNCE -- YES VIRGINIA, THERE IS A MARKET
SOUTHERN CALIFORNIA HOME SALES UP IN DECEMBER
BAY AREA HOME SALES DOWN 1.1 PERCENT
INCLEMENT WEATHER DAMPENS CALIFORNIA HOUSING MARKET DURING JANUARY
ADVERSE WEATHER CONDITIONS HAMPER CALIFORNIA HOME SALES IN FEBRUARY
CALIFORNIA HOME SALES CLIMB SHARPLY IN JANUARY FROM YEAR AGO
CALIFORNIA EXISTING HOME SALES DECLINE DURING JANUARY FROM MONTH AGO AND UNUSUALLY STRONG PACE OF JANUARY 1994
CALIFORNIA EXISTING HOME SALES INCREASE DURING FEBRUARY FROM MONTH BEFORE, BUT DECLINE FROM ROBUST PACE OF YEAR AGO

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters