29_35x90 knx_35x90
CBSLA WEATHER APP: iPhone App Store | Android App Coming Soon | More Info | Watch Josh's Live Demo


Southern California Home Sales Soar In July, Prices Steady

View Comments
(credit: istockphoto.com)

(credit: istockphoto.com)

Top Features
textalerts180 Southern California Home Sales Soar In July, Prices Steady

SAN DIEGO (AP) — Southern California’s recovering housing market remains red-hot, with sales hitting an eight-year high for July.

The research firm DataQuick says 25,419 homes were sold last month in the six-county region.

That’s up 17.6 percent from June and 23.5 percent compared to a year earlier. In fact, DataQuick says Wednesday that sales approached the historically normal level.

The median sales price was $385,000. That’s the same as in June but up nearly 26 percent since July of 2012.

The median price has now risen year-over-year for 16 months in a row.

DataQuick President John Walsh says a lot of the sales increase can be chalked up to a rising inventory. He says people who’ve been underwater on their mortgages can now sell and make money or at least break even.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus