CALIFORNIA BUSINESS MINUTE
Housing
03-24-10
Hi, I am Tim Johnson and welcome to the California Business Minute
Southern California home sales in February were above year-ago levels for the
20th month in a row as buyers continued to snap up bargain properties with
government-backed mortgages and tax incentives, according to a report from
San Diego - based MDA DataQuick, a real estate information company. The median
price paid for a home rose on a year-over-year basis for the third consecutive
month, according to its figures.
It was identified that a total of 15,359 new and resale homes sold in Los Angeles,
Riverside, San Diego, Ventura, San Bernardino and Orange counties last months.
That was virtually unchanged from 15,361 in January, and up 0.8 percent from
15,231 in February 2009. The average total sales for February were 17,983. The
median price paid for a Southern California home was $275,000 last month, up 1.3
percent from $271,500 in January, and up 10.0 percent from $250,000 for February
2009.
Meanwhile in Northern California, the median home prices rose 20 percent,
year-over-year, measuring February 2010 against last year. This was the fifth
consecutive month with a year-over-year increase. Again according to MDA DataQuick,
the rise was due to a slowing in foreclosures, as well as a spike in sales in
high-end markets. For the nine-county San Francisco Bay Area, the median price
rose from $295,000 in February 2009 to $354,000. This was up from $350,000 in
January 2010.
Additionally, the report said 4,987 homes (new and resale) were sold in February,
up 2.8 percent from January, but down 0.9 percent year-over-year. San Francisco
had the highest median sales price in the SF Bay Area at $627,500; Solano County
had the lowest, at $208,500.
I am Tim Johnson and this has been the California Business Minute.
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