California posted its strongest homes sales for any August in seven years as price increases cooled, a research firm said Friday, a relief to buyers who have been competing over slim pickings.
Housing sales are booming in California as pent-up demand finds increased supply.
Southern California’s recovering housing market remains red-hot, with sales hitting an eight-year high for July.
Southern California’s surging housing market stumbled last month with home sales falling as strapped homeowners refused to sell, fewer investors bought and the median sales price rose to $385,000.
Home sales in Los Angeles County jumped nearly 12 percent in June compared to a year ago, while prices rose by more than 2 percent, according to real estate firm DataQuick.
More people are buying homes as compared to a year ago, with a 25.3 percent jump in L.A. County properties, according to a real estate research group.
Home sales in Los Angeles County jumped by 6.6 percent in October, while prices dipped by 7.7 percent.
If you’re struggling to sell your home in Los Angeles, the economy may be to blame. A real estate tracking firm is reporting that sales of California homes slowed last month.
To help home sales along, Palmdale City officials have rehabilitated 14 homes and are now offering them back to the public.
A real estate tracking firm says home sales continued to plunge in California last month but foreclosures made up a smaller segment of the market.
A real estate tracking firm reports Southern California home sales in April were down 5.5 percent compared to March and down 9.2 percent from a year earlier.
Home prices are falling in most major U.S. cities, and the average prices in four of them are at their lowest point in 11 years. Analysts expect further prices declines in most cities in the coming months.
Home prices and sales dipped in California from year-ago levels as “short sales” and sales of foreclosed homes accounted for more than half of home resales in the state.
Real estate expert and agent Chad Rogers stopped by the KCAL 9 studios Monday to talk about homes sales in the current economy.
California’s median home price dipped more than 3 percent last month to $239,000 from $247,000 in January 2010 as distress sales and bargain hunting continued to dominate the market.