Printer Friendly

SOUTHERN CALIFORNIA HOME SALES UP IN DECEMBER

 RUNNING SPRINGS, Calif. /PRNewswire/ -- Southern California home sales surged in December, according to a real estate industry newsletter.
 A total of 15,866 new and used homes were sold in Ventura, Los Angeles, Orange, Riverside, San Bernardino and San Diego counties in December. That was up 25 percent from November's 12,689 and up 11.3 percent from 14,249 in December 1991, according to the Southern California Real Estate Observer.
 Sales activity was particularly strong in the single-family resale market, especially in Orange County where December resales outpaced year-ago activity by 38.8 percent (see chart).
 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.
 "A lot of people obviously got off the fence and into the market right around election time. It's a buyer's market. I think the perception is that prices are about as low as they're going to get, and that mortgage interest rates are about as low as they're going to get," said John Karevoll, the newsletter's editor and publisher.
 "What remains to be seen is if this is a blip on the curve, or the beginning of a more long term recovery in Southern California's real estate market," he said.
 The median price paid for a single-family resale house was $181,000 in December, up from $180,000 in November and down from $183,000 a year ago.
 The pickup in activity passed the Inland Empire by. Riverside County's December sales total was 1,447, down 4.4 percent from 1,514 in December 1991. In San Bernardino County the total was 1,680, down 3.9 percent from 1,748 a year ago.
 The market for newly built homes continued to be weak. In December 2,637 units were sold in Southern California, down 15.6 percent from 3,123 a year ago.
 The surge in December activity brought 4th quarter 1992 sales volume to 42,261 units, virtually unchanged from last year's 42,394.
 For all of 1992, a total of 166,410 units were sold in the six- county region, down 2.5 percent from 170,637 in 1991.
 Single family No.Sold No.Sold Pct. Med(K) Med(K) Pct.
 resale Dec-91 Dec-92 Chng Dec-91 Dec-92 Chng
 Los Angeles 4,073 5,052 24.0 pct. $195 $190 -2.6 pct.
 Orange County 1,266 1,757 38.8 pct. $225 $215 -4.4 pct.
 San Diego 1,449 1,761 21.5 pct. $180 $173 -4.2 pct.
 Riverside 805 782 -2.9 pct. $129 $134 3.5 pct.
 San Bernardino 1,145 1,145 0.0 pct. $127 $126 -0.8 pct.
 Ventura 458 564 23.1 pct. $209 $200 -4.1 pct.
 So. California 9,196 11,061 20.3 pct. $183 $181 -1.1 pct.
 Condo Resale No.Sold No.Sold Pct. Med(K) Med(K) Pct.
 Dec-91 Dec-92 Chng Dec-91 Dec-92 Chng
 Los Angeles 721 857 18.9 pct. $154 $160 3.9 pct.
 Orange County 335 381 13.7 pct. $155 $153 -1.3 pct.
 San Diego 502 583 16.1 pct. $120 $124 3.3 pct.
 Riverside 138 124 -10.1 pct. $140 $152 8.2 pct.
 San Bernardino 116 114 -1.7 pct. $106 $118 10.8 pct.
 Ventura 118 109 -7.6 pct. $158 $151 -4.1 pct.
 So. California 1,930 2,168 12.3 pct. $142 $146 2.8 pct.
 -0- 1/18/93
 /CONTACT: John Karevoll, 909-867-9534/


CO: ST: California IN: FIN SU:

BP-JL -- LA012 -- 5905 01/18/93 13:02 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:Jan 18, 1993
Words:609
Previous Article:ON ASSIGNMENT INC. REPORTS FOURTH QUARTER RESULTS
Next Article:FEDERAL EXPRESS IS NEWEST PARTICIPANT AT DISNEY PARKS
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
BAY AREA HOME SALES CONTINUE TO OUTPACE YEAR-AGO SALES LEVELS
CALIFORNIA HOME SALES RISE FOR FOURTH STRAIGHT MONTH DURING DECEMBER; CONDOMINIUM MARKET POSTS FIRST YEAR-YEAR SALES INCREASE SINCE MARCH
SOUTHERN CALIFORNIA HOME SALES DOWN IN JANUARY
INCO HOMES REPORTS THIRD QUARTER FINANCIAL RESULTS
MDC Holdings Reports Record 1999 Home Orders, Home Closings And Year-End Backlog.
M.D.C. Holdings Reports 73% Increase in 1999 Earnings.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters