Southern California Home Sales:
Market Shows Strongest February In 6 Years
Southern California Home Sales Rise …
While Certain Areas Fall
The numbers in Southern California home sales in February are interesting. Nationwide, February was a great month as we've reported elsewhere in these pages. In addition, Southern California home sales are among the nation's leaders when it comes to prices. However, activity has actually fallen in some areas of the Southland as the inventory is sparse.
Here's a report from Debra Gruszecki in the Press-Enterprise that details the recent numbers:
"'We are at a six-year high since the start of the year,' said DataQuick analyst Andrew LePage. Even so, sales in the Inland region declined, falling 5.9 percent in San Bernardino and Riverside counties to 4,792 from 5,093 in February 2012." …
Southern California Home Sales Fueled By "Move Up" Buyers
A lot of the activity going on out there involves "move up" buyers. These folks are seeing the market becoming solid again, and they recognize that prices are still low and mortgages are cheap. If they've got equity in their current home, many are deciding to take advantage of the California home sales market conditions to move to a larger, newer home.
Southern California Home Sales.