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 June 02, 2008

Home & Condo Sales Still on the Rise in Southern California
It never gets old hearing the latest news: Due to an increase in foreclosures Southern California made a giant leap in home sales, which were up twenty two percent. Condos and homes peaked at over fifteen thousand sold, where the previous month only sold around thirteen thousand condominiums and homes.
A half a million dollars and under seemed to be the selling price and the impetus that pushed sales up so drastically. There are still a lot of great deals to be had and many home buyers find it too tempting not to participate. What is down is the average price of a home. In April of 2008 the median price for a home in Southern California was less than $400,000 compared to a year ago when it was over $500,000.

In addition, home sale are down from the previous year and we are continuing to look for an increase in medium to high priced coastal homes to help pick up the pace.