Industry News

SoCal real estate sees mixed August

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Despite an overall slowing, sales trends differed sharply in local Southern California markets last month as Orange County experienced its weakest August in eight years and the Inland Empire experienced its strongest August ever, according to real estate information service DataQuick. A total of 31,131 homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in August, down 5.6 percent from July's 32,988 and down 9.6 percent from a near-record 34,437 for August last year, DataQuick reported. Home sales in Orange County dropped 32 percent in August from the same month last year, registering 3,745 sales compared to 5,511 a year ago. The median price of a home climbed approximately 25 percent during the same period from $435,000 to $543,000. Sales in the Inland Empire, which includes Riverside and San Bernardino counties, totaled 9,898 during August, up an average 5.4 percent from the same month last year. Median home prices in Riverside and San ...