Home Front

A blog about the economy and the Sacramento-area real estate market.

May 19, 2009
Repos still driving existing home sales in Southern California
MDA DataQuick released April sales statistics this morning for Southern California, showing a seventh straight month in which repossessed homes accounted for more than half of sales.
 It was also the 10th straight month of higher sales than the same month a year earlier.
 The Sacramento region is expected to see 13 straight months of that when statistics arrive later this week from DataQuick.

Meanwhile, here is a look at San Diego in particular, where the median is up $10,000 in recent months. San Diego and Sacramento went into the tank together in mid-2006.

"San Diego County home prices inched up $5,000 in April to a median $290,000, MDA DataQuick reported Monday, as sales continued to rise.

Prices have now climbed $10,000 from a low of $280,000 in December and January, although it is unclear whether the increase is due to rising values or a change in the mix of properties changing hands."




 

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