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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Southland home sales slow to ten-year low, Prices Up
Posted on 11/16/2006 05:10 AM | Link | Post Comment
The median price paid for a Southland home was $484,000 last month, the same as in September. The median was up 2.3 percent from $473,000 for October a year ago and up from the $410,000 Median for October 2004. Year-over-year increases have been in the single digits for seven months.
Recovery for Los Angeles Market?
The median home price in California's Los Angeles County rose 4.5% in October from a year ago to $514,000, a sign that the local real-estate market may be stabilizing, according to an article by the Los Angeles Times. That rise in appreciation is greater than the 3% year-over-year increase seen in September, the article says. However, home sales continued to drop, falling 21.8% in October from October 2005's levels, the paper says. However, that decrease was less than the 28% year-over-year decrease seen in September, the Times says.
DataQuick reports: Southland home sales slow to ten-year low.
Last month's sales count was the lowest for any October since 1996 when 18,505 homes were sold. October sales have ranged from 14,608 in 1991 to 32,522 in 2003. The October average is 23,077, slightly above last month's sales. DataQuick's sales statistics go back to 1988.
A total of 22,117 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 2.4 percent from 22,654 in September, and down 22.4 percent from 28,489 for October a year ago, according to DataQuick Information Systems.
Recovery for Los Angeles Market?
The median home price in California's Los Angeles County rose 4.5% in October from a year ago to $514,000, a sign that the local real-estate market may be stabilizing, according to an article by the Los Angeles Times. That rise in appreciation is greater than the 3% year-over-year increase seen in September, the article says. However, home sales continued to drop, falling 21.8% in October from October 2005's levels, the paper says. However, that decrease was less than the 28% year-over-year decrease seen in September, the Times says.
DataQuick reports: Southland home sales slow to ten-year low.
Last month's sales count was the lowest for any October since 1996 when 18,505 homes were sold. October sales have ranged from 14,608 in 1991 to 32,522 in 2003. The October average is 23,077, slightly above last month's sales. DataQuick's sales statistics go back to 1988.
A total of 22,117 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 2.4 percent from 22,654 in September, and down 22.4 percent from 28,489 for October a year ago, according to DataQuick Information Systems.
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