LOS ANGELES (CNS) – Home sales in Los Angeles County dropped 14.9 percent in December, compared to the same month a year ago, while prices dipped by 2.7 percent, a real estate information service reported today.
A total of 6,536 homes changed hands locally last month, compared to 7,679 in December 2009, according to La Jolla-based MDA DataQuick. The median price of a home in Los Angeles County in December was $330,000, down from $339,000 in December 2009.
In Orange County, 2,739 homes were sold in December, down 5.1 percent from December 2009, when 2,885 were sold. The median home price was $410,000 last month, down 5.7 percent from $435,000 a year ago.
A total of 19,528 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in December, according to DataQuick. That was up 20.5 percent from 16,208 in November, but down 12.5 percent from 22,328 in December 2009.
‘Ultra-low mortgage rates, coupled with lower prices, gave the market a boost this fall, helping to explain the above-average gain in closings between November and December,’ according to John Walsh, MDA DataQuick president. ‘We still see the potential for sales to perk up this spring if rates stay low and brighter economic news lifts consumer confidence. Of course, a loosening of credit terms would help an awful lot, too, especially in move-up markets.’
The median price for a Southern California home was $290,000 last month, up 1 percent from $287,000 in November, and up 0.3 percent from $289,000 in December 2009, according to DataQuick.
Christina Yu Yu, PhD, an expert in Chinese art and culture, began her new role as director of USC Pacific Asia Museum (USC PAM). Among her priorities for the museum will be recruiting a new curator to help with selection of exhibitions and to direct co...
The Greater Los Angeles County Vector Control District issued a warning to San Gabriel Valley residents to be on the lookout for an invasive species of insect called the Asian Tiger Mosquito (Ae. albopictus) which could be carrying a debilitating virus...