Markets & Economy

California’s not dreaming: September’s residential numbers continue to surprise

Even a slight month-over-month price decline beats the year over year numbers
  • Residential real estate in Southern California continues to rebound.
  • Month over month numbers surprisingly improved from August to September
  • Annual home price gains seen at all price points.

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In new data released by CoreLogic, residential real estate purchases in sunny Southern California saw a small uptick over this August, and a big spike over the same month last year. In September 2015, 21,350 new and existing houses and condominiums changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. That’s an increase of 0.4 percent from the 21,257 properties that sold in August 2015. In terms of year-over-year increases, only 18,874 properties sold in September of 2014, 13.1 percent less than sold last month. Sales have climbed on a year-over-year basis since February for a total of eight consecutive months. That streak is matched only by a similar string of gains recorded in late 2012 to early 2013. Compared to September’s past, this year’s numbers are approaching two high-water marks for the month. In 2009, 21,539 sales were recorded, just 189 more deals than this September. This sum is rapidly approaching the 23,...