Investors keep S. California housing sales strong

Published on NewsOK Modified: March 13, 2013 at 1:05 pm •  Published: March 13, 2013
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SAN DIEGO (AP) — Southern California home sales continued strong last month as investors snapped up mid- to high-end homes, though it was unclear whether the rebound will continue through the year, real estate research firm DataQuick reported Wednesday.

The region recorded its highest February sales in six years, with 15,945 homes sold in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties, DataQuick said.

That was down 0.7 percent from January but up 1 percent from February 2012.

The median sales price was $320,000, down slightly from January but up nearly 21 percent from February of last year, DataQuick reported.

Year-over-year prices — that is, prices compared with the same month in the previous year — have jumped by double digits each month since last August. Even so, the median sales price was only about what it was in mid-2003, DataQuick said.

And despite year-over-year improvement, sales remained nearly 10 percent below the February average.

Many of the January and February sales were to investors who went shopping for bargains during the 2012 winter holiday season, DataQuick President John Walsh said in a statement.

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