Â
Sponsored by
SOUTHERN CALIFORNIA
Southern California home prices jump in October
Posted: Nov 13, 2012 10:16 AM by The Associated Press
Updated: Nov 13, 2012 11:20 AM
SAN DIEGO (AP) - A research firm says Southern California home prices jumped last month, the latest evidence that the housing market's recovery is gaining momentum.
DataQuick said Tuesday that the median price for new and existing houses and condominiums reached $315,000 in October, up nearly 17 percent from the same period last year. More than 21,000 homes sold in the six-county region, up 25 percent from last year.
DataQuick says foreclosed properties made up a smaller part of the sales mix, lifting the median price. Foreclosed properties tend to sell at steep discounts.
Homes that were foreclosed upon in the previous year accounted for 16 percent of existing home sales last month, down from 33 percent last year.
Investors and second-home buyers continue to account for many of the purchases.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at feedback@ksby.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
KSBY.COM VIDEOS
-
Moore, Oklahoma residents continue to sift through rubble left by deadly tornado
Views: 2 May 24, 2013 -
Hasay finishes 18th at regionals, fails to advance to NCAA Championships in 10K
Views: 19 May 24, 2013 -
"Monster" reunited with owner after his cage was blown away during Oklahoma tornado
Views: 99 May 22, 2013 -
Joshua Hornsby mourns the loss of his young daughter killed in the Oklahoma tornado
Views: 30 May 22, 2013
Comments