Slower Home Sales ... Prices Hold
DataQuick Information Systems reports that "Southern California home sales remained at their slowest pace in nine years last month ... Prices are still leveling off ..." In November, sales were down approximately 7.8% from October's levels, while there was over 26% drop from a year ago.
As for prices? "The median price paid for a Southland home was $487,000 last month, up 0.6 percent from $484,000 in October and up 1.7 percent from $479,000 for November a year ago."
To read more: Dataquick reports Home Sales Slowest Since 1997