Home sales dip in SoCal, but median sale price tops out

More cash and absentee buyers emerge than average
  • Overall home sales in April dropped 3.2 percent year-over-year.
  • Homes valued over $500,000 but below $800,000 saw an increase in percentage of total sold.
  • Cash buyers made up for 21.3 percent of purchases.

For just the second time in the past 12 months, the year-over-year total sales didn’t increase. In April, new and resale homes in Ventura, Los Angeles, Riverside, San Diego, San Bernardino and Orange counties dropped just 3.2 percent from 22,020 to 21,312.