Southern California home sales hit 9-year low
Price appreciation in July slows to 4.9% year-over-year
By Inman News, Monday, August 14, 2006.Southern California home sales declined for the eighth consecutive month and hit the slowest pace in nine years, while the rate of home-price appreciation fell to the lowest level since fall 1999, according to DataQuick Information Systems, a real estate information company.
A total of 22,712 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July, DataQuick reported, down 22.3 percent from 29,237 sales in June and down 26.9 percent from 31,069 sales in July last year.more...
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