Home sales in Southern California rose 24 percent in November from a year earlier as the market benefited from a couple of timing quirks, a research firm said Tuesday.
Sales made big annual gains in all six counties, said Irvine-based CoreLogic. Prices also rose.
Last month the region’s sales of new and previously owned houses and condominiums rose from 15,728 a year earlier to 19,530, the company said.
But the November 2015 sales were “artificially” weak, CoreLogic analyst Andrew LePage noted in the report.
“Federal lending rules that kicked in during October 2015 resulted in delays that caused some deals to close in December 2015 rather than November 2015,” LePage said in a statement.
This past November also had one more business day, he said. But sales were down 2 percent from October.
The median price rose 6 percent from a year earlier to $465,000 and it was unchanged from October.
CoreLogic’s report also showed that:
• In Los Angeles County, sales rose 24 percent from a year earlier to 6,450 properties, and they slipped 1 percent from October. The county’s median price increased 8 percent from a year earlier to $530,000, and it was up 1 percent from October.
• Orange County’s sales increased 21 percent from a year earlier to 2,978, and they fell 4.5 percent from October. The median price rose 6 percent from November 2015 to $660,000, and it rose 1 percent from October.
• Sales in Riverside County increased 23.5 percent from a year ago to 3,351 and increased 2 percent from October. The county’s median price increased 7 percent from a year ago to $340,000, and it was up 1.5 percent from October.
• In San Bernardino County, sales rose 28 percent from a year ago to 2,500 and were up 3.5 percent from October. The median price increased 6 percent from a year ago to $295,000 and it was up 3.5 percent month-to-month.
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