February Southland homes reach record prices, but fewer homes sell
DataQuick Information Systems reports that "The median price paid for a home in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties was $480,000 last month. That was up 2.3 percent from $469,000 in January and up 12.9 percent from $425,000 for February a year ago."
But, then it goes on to report that "The number of homes sold was the lowest in five years."
So what's the story with the real estate market? From our vantage point, it's still a little early to tell. Historically it's slower in January and February. We are looking to the spring market to be a better indicator.
To read more: DQNews.com March 14, 2006 Southern California home prices