Tuesday, July 12, 2011

Home sales rebound in Southern Cal but still below 2010 levels: DataQuick

No doubt this was due to the near record low mortgage rates in June/May.  Also, this report showed home buying mostly on the lower end of the scale.
Sales of lower-cost homes, driven by investors and first-time buyers fared better than traditional move-up activity in middle price ranges, according to a report Tuesday from DataQuick. The report indicates that aspirational homeownership is also waning in the region.
A total of 20,532 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June, up 11.6% from 18,394 in May but down 14% from 23,871 in June 2010, according to the San Diego-based firm.
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