Southern California home sales fall in January
LOS ANGELES (AP) -- A real estate research firm says Southern California home sales fell in January amid scant inventories and the highest prices in years.
DataQuick said Wednesday that slightly more than 14,400 new and existing houses and condominiums sold last month, down about 21 percent from December. It was the lowest January tally in three years.
At $380,000, the median sales price in the six-county region was down nearly 4 percent from December -- a normal seasonal decline -- but up about 18 percent from January 2013.
The median sale price has risen on a year-over-year basis for 22 consecutive months.
DataQuick says that usually fewer transactions close during January and February because many buyers drop out of the market during the holidays and midwinter.